Orion Portfolio Solutions LLC Has $2.93 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Orion Portfolio Solutions LLC cut its position in shares of NIKE, Inc. (NYSE:NKE) by 20.9% in the fourth quarter, Holdings Channel.com reports. 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 quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. JNBA Financial Advisors lifted its position in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares in the last quarter. Frisch Financial Group Inc. raised its stake in NIKE by 4.7% during the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares during the period. Nations Financial Group Inc. IA ADV lifted its holdings in shares of NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of NIKE by 1.0% in the fourth quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after buying an additional 150 shares during the period. Finally, Game Plan Financial Advisors LLC grew its holdings in shares of NIKE by 11.1% during the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock valued at $114,000 after buying an additional 150 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NKE has been the subject of several research analyst reports. UBS Group reduced their price objective on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, March 21st. Guggenheim restated a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. BMO Capital Markets cut their target price on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Finally, Robert W. Baird lowered their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $87.38.

NIKE Price Performance

NYSE NKE opened at $63.57 on Tuesday. The stock has a 50-day simple moving average of $74.01 and a 200 day simple moving average of $76.82. NIKE, Inc. has a twelve month low of $62.65 and a twelve month high of $98.04. The stock has a market capitalization of $94.02 billion, a PE ratio of 19.62, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share 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 analysts’ expectations of $11.02 billion. During the same period in the prior year, the business earned $0.98 earnings per share. NIKE’s revenue for the quarter was down 9.1% compared to the same quarter last year. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated 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 transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by company insiders.

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.