Envestnet Portfolio Solutions Inc. Sells 12,978 Shares of NIKE, Inc. (NYSE:NKE)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,280 shares of the footwear maker’s stock after selling 12,978 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in NIKE were worth $6,907,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NKE. OneDigital Investment Advisors LLC lifted its position in NIKE by 7.8% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 16,792 shares of the footwear maker’s stock worth $1,484,000 after buying an additional 1,217 shares during the last quarter. Empowered Funds LLC lifted its position in NIKE by 10.7% in the 3rd quarter. Empowered Funds LLC now owns 23,214 shares of the footwear maker’s stock worth $2,052,000 after buying an additional 2,243 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in NIKE by 4.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 66,417 shares of the footwear maker’s stock worth $5,875,000 after buying an additional 2,843 shares during the last quarter. TrinityPoint Wealth LLC lifted its position in NIKE by 9.2% in the 3rd quarter. TrinityPoint Wealth LLC now owns 28,561 shares of the footwear maker’s stock worth $2,525,000 after buying an additional 2,408 shares during the last quarter. Finally, Prudent Man Advisors LLC lifted its position in NIKE by 42.0% in the 3rd quarter. Prudent Man Advisors LLC now owns 8,594 shares of the footwear maker’s stock worth $760,000 after buying an additional 2,544 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of recent research reports. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. BMO Capital Markets boosted their price objective on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Bank of America lowered their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $102.00 to $72.00 in a research report on Friday, February 7th. Finally, TD Cowen lowered their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fourteen 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 MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.54.

NIKE Trading Up 3.0 %

NYSE NKE opened at $73.78 on Tuesday. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $101.92. The stock has a market cap of $109.13 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.52 and a beta of 1.02. The stock’s fifty day moving average price is $74.71 and its 200-day moving average price is $77.71. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was down 7.7% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.