NIKE, Inc. $NKE Holdings Decreased by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC reduced its stake in NIKE, Inc. by 5.3%, now holding 148,376 shares valued at approximately $9.42 million.
• Major institutional investors, including Vanguard Group and Goldman Sachs, increased their positions in NIKE, indicating strong interest from hedge funds with 64.25% of the stock owned by such investors.
• NIKE announced a quarterly dividend of $0.40 per share, reflecting a 2.0% dividend yield with a payout ratio of 74.07%.

Kestra Advisory Services LLC decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 148,376 shares of the footwear maker's stock after selling 8,316 shares during the period. Kestra Advisory Services LLC's holdings in NIKE were worth $9,419,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $28,000. Stone House Investment Management LLC bought a new stake in NIKE during the 1st quarter valued at $25,000. Putney Financial Group LLC bought a new stake in NIKE during the 4th quarter valued at $40,000. Minot DeBlois Advisors LLC bought a new stake in NIKE during the 4th quarter valued at $42,000. Finally, N.E.W. Advisory Services LLC bought a new stake in NIKE during the 1st quarter valued at $37,000. Institutional investors own 64.25% of the company's stock.

NIKE Price Performance

Shares of NKE traded down $0.45 during midday trading on Wednesday, reaching $78.20. The stock had a trading volume of 12,633,901 shares, compared to its average volume of 9,298,987. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The firm's 50 day moving average price is $73.60 and its 200-day moving average price is $67.84. The company has a market capitalization of $115.50 billion, a P/E ratio of 36.20, a P/E/G ratio of 2.86 and a beta of 1.27.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The company's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is presently 74.07%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Argus raised NIKE to a "buy" rating in a research note on Sunday, July 6th. Bank of America lifted their target price on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft cut their target price on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. The Goldman Sachs Group lifted their target price on NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Finally, Morgan Stanley lifted their target price on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.80% of the stock is owned by 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.