NIKE, Inc. (NYSE:NKE) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 20.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,666 shares of the footwear maker’s stock after selling 10,187 shares during the period. Orion Portfolio Solutions LLC’s holdings in NIKE were worth $2,926,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitlin John LLC increased its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC acquired a new stake in shares of NIKE during the fourth quarter worth approximately $28,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA raised its holdings in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in NIKE during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of a number of recent analyst reports. UBS Group cut their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Bank of America reduced their target price on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $75.00 to $115.00 in a report on Monday, February 24th. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.38.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the 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 of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $63.57 on Tuesday. The stock has a market cap of $94.02 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 12 month low of $62.65 and a 12 month high of $98.04. The stock’s 50 day moving average price is $74.01 and its 200 day moving average price is $76.82.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 53.16%.

NIKE 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.