Atria Wealth Solutions Inc. Sells 14,785 Shares of NIKE, Inc. $NKE

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in NIKE by 39.9%, selling 14,785 shares during the second quarter.
• NIKE reported $11.72 billion in revenue for the last quarter, surpassing estimates, and an earnings per share (EPS) of $0.49.
• The company declared a quarterly dividend of $0.40 per share, representing a 2.3% dividend yield and an annualized payout of $1.60.

Atria Wealth Solutions Inc. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 39.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,276 shares of the footwear maker's stock after selling 14,785 shares during the period. Atria Wealth Solutions Inc.'s holdings in NIKE were worth $1,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of NKE. Stone House Investment Management LLC bought a new position in NIKE in the 1st quarter worth $25,000. Mascoma Wealth Management LLC bought a new position in NIKE in the 2nd quarter worth $26,000. Halbert Hargrove Global Advisors LLC boosted its holdings in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after buying an additional 362 shares during the period. Saudi Central Bank bought a new position in NIKE in the 1st quarter worth $30,000. Finally, Matrix Trust Co boosted its holdings in NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Stock Up 1.2%

NKE opened at $68.45 on Thursday. The firm has a 50-day simple moving average of $73.38 and a two-hundred day simple moving average of $67.34. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The company has a market capitalization of $101.18 billion, a PE ratio of 35.10, a price-to-earnings-growth ratio of 2.49 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the firm earned $0.70 EPS. The firm's revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. NIKE's dividend payout ratio (DPR) is presently 82.05%.

Insider Transactions at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NKE shares. Evercore ISI dropped their target price on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. JPMorgan Chase & Co. upped their target price on shares of NIKE from $93.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, October 1st. Argus raised shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a report on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $82.21.

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.

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