Envestnet Portfolio Solutions Inc. Reduces Stock Holdings in NIKE, Inc. (NYSE:NKE)

Envestnet Portfolio Solutions Inc. trimmed its position in NIKE, Inc. (NYSE:NKE) by 12.4% during the 4th quarter, HoldingsChannel reports. The firm owned 91,280 shares of the footwear maker’s stock after selling 12,978 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in NIKE were worth $6,907,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Pacer Advisors Inc. boosted its position in NIKE by 6,029.6% in the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in NIKE by 1,209,638.7% in the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Bank of New York Mellon Corp boosted its position in 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 purchasing an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of 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 valued at $228,165,000 after buying an additional 2,357,745 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of NIKE during the 4th quarter valued at about $156,438,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s 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 completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

NIKE Stock Performance

NYSE NKE opened at $73.78 on Tuesday. The company 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 company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business’s 50 day moving average price is $74.71 and its 200-day moving average price is $77.71. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $101.92.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NKE shares. Wells Fargo & Company lowered their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. UBS Group reaffirmed a “neutral” rating and set a $73.00 price objective on shares of NIKE in a research report on Thursday, December 26th. Stifel Nicolaus lowered their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lowered their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $89.54.

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.