Envestnet Asset Management Inc. Sells 37,540 Shares of NIKE, Inc. $NKE

Envestnet Asset Management Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 3.1% during the third quarter, Holdings Channel reports. The firm owned 1,174,587 shares of the footwear maker’s stock after selling 37,540 shares during the period. Envestnet Asset Management Inc.’s holdings in NIKE were worth $81,904,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC lifted its position in shares of NIKE by 1.5% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 30,715 shares of the footwear maker’s stock worth $2,154,000 after buying an additional 457 shares in the last quarter. Adell Harriman & Carpenter Inc. bought a new stake in NIKE during the third quarter worth $246,000. Westside Investment Management Inc. boosted its position in NIKE by 6.1% in the third quarter. Westside Investment Management Inc. now owns 4,900 shares of the footwear maker’s stock worth $353,000 after purchasing an additional 281 shares during the last quarter. Unison Asset Management LLC bought a new position in NIKE in the 3rd quarter valued at $172,000. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at $66,000. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NKE has been the subject of a number of research analyst reports. Guggenheim restated a “buy” rating on shares of NIKE in a report on Wednesday, December 31st. Bank of America decreased their target price on NIKE from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, December 19th. Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 12th. UBS Group reissued a “neutral” rating on shares of NIKE in a report on Monday, January 5th. Finally, DZ Bank restated a “buy” rating on shares of NIKE in a research note on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.61.

Insider Activity at NIKE

In other news, CEO Elliott Hill bought 16,388 shares of NIKE stock in a transaction that occurred on Monday, December 29th. The shares were acquired at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the purchase, the chief executive officer directly owned 241,587 shares in the company, valued at $14,760,965.70. The trade was a 7.28% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $64.80, for a total value of $5,577,854.40. Following the sale, the chairman directly owned 647,615 shares of the company’s stock, valued at approximately $41,965,452. This trade represents a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 75,079 shares of company stock valued at $4,449,887. Company insiders own 0.80% of the company’s stock.

NIKE Stock Up 1.9%

NKE opened at $63.91 on Friday. The company has a fifty day moving average price of $63.85 and a 200-day moving average price of $68.30. The firm has a market capitalization of $94.61 billion, a P/E ratio of 37.59, a price-to-earnings-growth ratio of 3.27 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.16. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $0.78 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a $0.41 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, December 1st. NIKE’s payout ratio is 96.47%.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).