Atria Wealth Solutions Inc. Sells 4,922 Shares of NIKE, Inc. (NYSE:NKE)

Atria Wealth Solutions Inc. lessened its stake in NIKE, Inc. (NYSE:NKE) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,612 shares of the footwear maker’s stock after selling 4,922 shares during the period. Atria Wealth Solutions Inc.’s holdings in NIKE were worth $2,860,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of NKE. State Street Corp grew its holdings in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC grew its stake in shares of NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Fisher Asset Management LLC increased its holdings in NIKE by 6.0% during 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 period. Finally, Charles Schwab Investment Management Inc. increased its holdings in NIKE by 1.4% during the 3rd 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 currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $84.00 price target on shares of NIKE in a report on Friday, February 7th. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Morgan Stanley reduced their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. TD Cowen reduced their price target on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Stifel Nicolaus reduced their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Stock Performance

NIKE stock opened at $76.50 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $113.15 billion, a P/E ratio of 23.61, a PEG ratio of 2.50 and a beta of 1.01. The stock’s 50 day moving average is $74.31 and its 200 day moving average is $78.09. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.62.

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

NIKE Dividend Announcement

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 given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.09%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $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 currently owned by 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.