NIKE, Inc. (NYSE:NKE) Stake Trimmed by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 23.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,727 shares of the footwear maker's stock after selling 21,553 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in NIKE were worth $4,426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in shares of NIKE by 32.4% during the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC boosted its position in shares of NIKE by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock worth $1,915,110,000 after buying an additional 347,178 shares in the last quarter. Capital World Investors boosted its position in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock worth $1,857,389,000 after buying an additional 2,288,627 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after buying an additional 3,121,929 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of NIKE in the 4th quarter worth about $1,126,288,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on NKE. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. UBS Group reduced their target price on shares of NIKE from $73.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, March 21st. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a report on Friday, March 21st. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. reduced 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 investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.74.

NIKE Stock Up 0.4%

Shares of NKE stock traded up $0.27 during mid-day trading on Friday, reaching $59.78. 19,005,737 shares of the company were exchanged, compared to its average volume of 15,291,197. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The company has a market capitalization of $88.41 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.11 and a beta of 1.21. The business's 50 day simple moving average is $59.78 and its 200 day simple moving average is $67.95.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The business had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the company earned $0.98 earnings per share. The business's quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is currently owned by company insiders.

About NIKE

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.