Vident Advisory LLC Trims Stock Holdings in NIKE, Inc. $NKE

Key Points

• Vident Advisory LLC reduced its stake in NIKE, Inc. by 54.5% during the first quarter, holding 24,385 shares valued at approximately $1.55 million after selling 29,187 shares.
• Several hedge funds are adjusting their positions, with Spire Wealth Management increasing holdings by 4.4% and Capitolis Liquid Global Markets LLC boosting their stake by 40.9%.
• Analysts have mixed sentiments on NIKE, with JPMorgan Chase upgrading the stock from "neutral" to "overweight," raising the price target from $64 to $93, while other firms are providing more conservative targets.

Vident Advisory LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 54.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,385 shares of the footwear maker's stock after selling 29,187 shares during the period. Vident Advisory LLC's holdings in NIKE were worth $1,548,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after acquiring an additional 17,888 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of NIKE by 46.0% in the fourth quarter. AQR Capital Management LLC now owns 116,428 shares of the footwear maker's stock worth $8,810,000 after acquiring an additional 36,673 shares during the last quarter. Triumph Capital Management acquired a new position in shares of NIKE in the fourth quarter worth $215,000. Finally, Aptus Capital Advisors LLC raised its holdings in shares of NIKE by 100.3% in the fourth quarter. Aptus Capital Advisors LLC now owns 22,619 shares of the footwear maker's stock worth $1,718,000 after acquiring an additional 11,325 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NKE shares. Sanford C. Bernstein reissued an "outperform" rating on shares of NIKE in a report on Monday, August 18th. Needham & Company LLC boosted their price target on NIKE from $66.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Telsey Advisory Group reissued a "market perform" rating and issued a $70.00 price target on shares of NIKE in a report on Friday, June 27th. The Goldman Sachs Group boosted their price target on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, HSBC upgraded NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a report on Friday, June 27th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Stock Down 1.9%

NYSE NKE traded down $1.44 during trading hours on Friday, hitting $73.91. The company had a trading volume of 13,753,260 shares, compared to its average volume of 8,994,767. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a market capitalization of $109.16 billion, a price-to-earnings ratio of 34.22, a P/E/G ratio of 2.74 and a beta of 1.24. 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 is $75.48 and its 200 day moving average is $67.97.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the firm earned $0.99 EPS. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio is currently 74.07%.

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.