NIKE, Inc. (NYSE:NKE) Stock Holdings Lessened by LPL Financial LLC

LPL Financial LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,006,702 shares of the footwear maker’s stock after selling 21,429 shares during the quarter. LPL Financial LLC’s holdings in NIKE were worth $76,177,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Pacer Advisors Inc. boosted its position in shares of NIKE by 6,029.6% in the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock valued at $516,166,000 after purchasing an additional 6,709,985 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the period. Assenagon Asset Management S.A. grew its position in NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after purchasing an additional 2,357,745 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of NIKE during the fourth quarter valued at $156,438,000. Finally, State Street Corp increased its holdings in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 1.2 %

Shares of NKE stock opened at $65.76 on Thursday. The firm has a market capitalization of $97.26 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1 year low of $64.95 and a 1 year high of $98.04. The firm’s fifty day simple moving average is $74.42 and its 200 day simple moving average is $77.13. 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 posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue was down 9.1% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.43%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada cut their target price on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a research report on Friday, March 21st. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Telsey Advisory Group restated a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. JPMorgan Chase & Co. cut their price target on NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Finally, Wells Fargo & Company lowered their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase 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 NIKE stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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.