NIKE, Inc. (NYSE:NKE) Shares Sold by Avitas Wealth Management LLC

Avitas Wealth Management LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 32.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,229 shares of the footwear maker’s stock after selling 1,989 shares during the period. Avitas Wealth Management LLC’s holdings in NIKE were worth $320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its holdings in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after buying an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP raised its stake in NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after acquiring an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC lifted its position in NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after acquiring an additional 251,411 shares during the period. Fisher Asset Management LLC grew its stake in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NIKE by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after purchasing an additional 117,187 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NKE. UBS Group reissued a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a research note on Thursday, December 26th. Wells Fargo & Company cut their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Robert W. Baird reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. BMO Capital Markets boosted their target price on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Morgan Stanley reduced their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $89.77.

NIKE Stock Performance

NKE stock opened at $74.60 on Thursday. The firm has a market cap of $110.34 billion, a P/E ratio of 23.02, a P/E/G ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 12-month low of $70.32 and a 12-month high of $107.43. The stock’s 50 day simple moving average is $75.53 and its 200 day simple moving average is $78.12. 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 announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Monday, December 2nd. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 49.38%.

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.