Liontrust Investment Partners LLP Sells 55,661 Shares of NIKE, Inc. $NKE

Key Points

• Liontrust Investment Partners cut its NIKE position by 40.8%, selling 55,661 shares and retaining 80,880 shares valued at approximately $4.27 million. Institutional investors collectively own 64.25% of NIKE.
• Analyst sentiment remains mixed, with NIKE carrying an average “Hold” rating and a consensus price target of $53.74. Recent targets range from $45 at Deutsche Bank to $70 at Robert W. Baird, while Guggenheim lowered its target to $60.
• NIKE beat quarterly earnings expectations with $0.20 in adjusted EPS and $10.97 billion in revenue, though revenue declined 1.1% year over year. Shares opened at $42.28, near the company’s one-year low, while the quarterly dividend implies a 3.9% annual yield.

Liontrust Investment Partners LLP trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 40.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,880 shares of the footwear maker's stock after selling 55,661 shares during the quarter. Liontrust Investment Partners LLP's holdings in NIKE were worth $4,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Western Wealth Management LLC increased its stake in shares of NIKE by 98.4% in the first quarter. Western Wealth Management LLC now owns 33,030 shares of the footwear maker's stock worth $1,745,000 after purchasing an additional 16,383 shares in the last quarter. Hamilton Wealth LLC bought a new stake in shares of NIKE during the 1st quarter valued at $899,000. Edgestream Partners L.P. purchased a new position in shares of NIKE during the 1st quarter valued at $234,000. Centaurus Financial Inc. lifted its stake in shares of NIKE by 77.8% during the 1st quarter. Centaurus Financial Inc. now owns 6,498 shares of the footwear maker's stock valued at $343,000 after buying an additional 2,843 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its holdings in NIKE by 35.2% in the 1st quarter. Arkadios Wealth Advisors now owns 79,352 shares of the footwear maker's stock worth $4,191,000 after buying an additional 20,643 shares during the period. Institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Robert W. Baird reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of NIKE in a research note on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lifted their target price on NIKE from $43.00 to $45.00 and gave the company a "hold" rating in a research note on Friday, July 17th. Argus raised NIKE to a "strong-buy" rating in a report on Wednesday, July 15th. Finally, Guggenheim restated a "buy" rating and issued a $60.00 price target (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $53.74.

Insider Buying and Selling at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.10% of the company's stock.

NIKE Price Performance

NYSE:NKE opened at $42.28 on Friday. The firm has a market capitalization of $62.73 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 1.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The business has a 50 day simple moving average of $43.62 and a 200-day simple moving average of $50.42. NIKE, Inc. has a 1 year low of $40.00 and a 1 year high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. Equities analysts forecast that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.9%. NIKE's payout ratio is 78.47%.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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