Invesco LLC Decreases Holdings in NIKE, Inc. (NYSE:NKE)

Invesco LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 47.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,749 shares of the footwear maker's stock after selling 5,271 shares during the period. Invesco LLC's holdings in NIKE were worth $365,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter worth approximately $28,000. LFA Lugano Financial Advisors SA lifted its stake in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after buying an additional 210 shares in the last quarter. Hopwood Financial Services Inc. bought a new position in NIKE in the 4th quarter worth $30,000. EnRich Financial Partners LLC increased its stake in NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after buying an additional 273 shares in the last quarter. Finally, BankPlus Trust Department purchased a new stake in NIKE in the 4th quarter worth $34,000. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on NKE shares. Evercore ISI lowered their price objective on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday. BMO Capital Markets lowered their price target on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a report on Friday, March 21st. Stifel Nicolaus dropped their price target on NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Citigroup reduced their price objective on shares of NIKE from $72.00 to $57.00 and set a "neutral" rating on the stock in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $77.59.

NIKE Stock Up 1.1%

NYSE NKE traded up $0.66 on Tuesday, reaching $61.44. 12,275,390 shares of the stock traded hands, compared to its average volume of 15,282,794. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The company has a market cap of $90.88 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 2.11 and a beta of 1.21. The company has a fifty day moving average price of $59.89 and a 200-day moving average price of $67.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.

NIKE Company 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.