NIKE, Inc. (NYSE:NKE) Shares Sold by Virtu Financial LLC

Key Points

• Virtu Financial LLC has reduced its holding in NIKE, Inc. by 64.8%, selling 48,334 shares and bringing its total to 26,236 shares, valued at approximately $1,665,000.
• Several large investors, including Brighton Jones LLC and Jaffetilchin Investment Partners LLC, have significantly increased their positions in NIKE during the fourth quarter.
• NIKE has reported earnings of $0.14 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $11.10 billion despite a year-over-year decline.

Virtu Financial LLC lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 64.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,236 shares of the footwear maker's stock after selling 48,334 shares during the period. Virtu Financial LLC's holdings in NIKE were worth $1,665,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Invesco Ltd. raised its position in shares of NIKE by 17.8% in the first quarter. Invesco Ltd. now owns 7,317,084 shares of the footwear maker's stock worth $464,488,000 after acquiring an additional 1,103,281 shares during the period. Covestor Ltd raised its position in shares of NIKE by 27.2% in the first quarter. Covestor Ltd now owns 1,758 shares of the footwear maker's stock worth $112,000 after acquiring an additional 376 shares during the period. Frank Rimerman Advisors LLC raised its position in shares of NIKE by 27.4% in the first quarter. Frank Rimerman Advisors LLC now owns 10,889 shares of the footwear maker's stock worth $691,000 after acquiring an additional 2,340 shares during the period. Koss Olinger Consulting LLC raised its position in shares of NIKE by 5.5% in the first quarter. Koss Olinger Consulting LLC now owns 44,241 shares of the footwear maker's stock worth $2,808,000 after acquiring an additional 2,315 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of NIKE in the first quarter worth about $226,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NKE. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 price target for the company in a research report on Friday, June 27th. Wells Fargo & Company upped their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Citigroup upped their price objective on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a research note on Friday, June 27th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Finally, Evercore ISI dropped their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

NIKE Stock Up 1.2%

NKE stock traded up $0.89 during midday trading on Tuesday, hitting $74.91. The company's stock had a trading volume of 6,397,175 shares, compared to its average volume of 10,926,941. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The firm has a market capitalization of $110.63 billion, a P/E ratio of 34.68, a PEG ratio of 2.69 and a beta of 1.27. The firm has a 50-day simple moving average of $70.20 and a 200-day simple moving average of $67.60.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. During the same quarter last year, the company posted $0.99 EPS. The firm's revenue was down 11.9% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

NIKE 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.