Bank of Nova Scotia Has $14.22 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Bank of Nova Scotia cut its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 74.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 187,881 shares of the footwear maker's stock after selling 551,283 shares during the period. Bank of Nova Scotia's holdings in NIKE were worth $14,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NKE. XTX Topco Ltd acquired a new stake in NIKE during the third quarter valued at $418,000. Teachers Retirement System of The State of Kentucky grew its stake in NIKE by 8.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker's stock valued at $23,466,000 after acquiring an additional 20,043 shares during the period. Tidal Investments LLC increased its holdings in NIKE by 65.4% in the 3rd quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker's stock worth $9,332,000 after acquiring an additional 41,752 shares in the last quarter. Denver PWM LLC lifted its holdings in NIKE by 9.7% during the third quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker's stock valued at $228,000 after purchasing an additional 227 shares in the last quarter. Finally, Confluence Investment Management LLC grew its position in shares of NIKE by 6.3% in the fourth quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker's stock valued at $18,621,000 after purchasing an additional 14,592 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

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NIKE Stock Performance

NKE stock traded down $0.81 during trading on Tuesday, hitting $54.60. 5,540,903 shares of the company's stock traded hands, compared to its average volume of 14,060,590. The stock has a market capitalization of $80.76 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The stock has a fifty day moving average price of $69.65 and a two-hundred day moving average price of $74.59. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The business's revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Monday, March 3rd. NIKE's dividend payout ratio (DPR) is 53.16%.

Analyst Ratings Changes

A number of brokerages have commented on NKE. China Renaissance started coverage on NIKE in a report on Wednesday, March 19th. They set a "hold" rating for the company. Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Bank of America dropped their price objective on shares of NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Telsey Advisory Group restated a "market perform" rating and issued a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Finally, BMO Capital Markets lowered their price objective on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Sixteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $85.15.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert Holmes Swan acquired 8,600 shares of the business's stock in a transaction on Friday, April 4th. The shares were bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.