First Trust Advisors LP Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

First Trust Advisors LP lowered its holdings in NIKE, Inc. (NYSE:NKE – Get Rating) by 23.4% during the 3rd quarter, Holdings Channel reports. The firm owned 81,698 shares of the footwear maker’s stock after selling 24,941 shares during the period. First Trust Advisors LP’s holdings in NIKE were worth $6,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Worth Asset Management LLC purchased a new position in NIKE in the first quarter worth $32,000. Ameliora Wealth Management Ltd. purchased a new position in NIKE in the third quarter worth $33,000. Moisand Fitzgerald Tamayo LLC boosted its position in NIKE by 32.8% in the third quarter. Moisand Fitzgerald Tamayo LLC now owns 482 shares of the footwear maker’s stock worth $40,000 after purchasing an additional 119 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of NIKE during the 3rd quarter valued at $42,000. Finally, Heritage Wealth Management LLC purchased a new position in shares of NIKE during the 2nd quarter valued at $48,000. Hedge funds and other institutional investors own 63.20% of the company’s stock.

Insider Activity at NIKE

In related news, EVP Monique S. Matheson sold 5,000 shares of the stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $124.00, for a total transaction of $620,000.00. Following the completion of the sale, the executive vice president now directly owns 60,213 shares in the company, valued at approximately $7,466,412. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other NIKE news, Director Peter B. Henry acquired 557 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was acquired at an average price of $125.45 per share, for a total transaction of $69,875.65. Following the acquisition, the director now owns 4,062 shares in the company, valued at approximately $509,577.90. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Monique S. Matheson sold 5,000 shares of the stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $124.00, for a total value of $620,000.00. Following the completion of the sale, the executive vice president now owns 60,213 shares of the company’s stock, valued at approximately $7,466,412. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

NIKE Price Performance

Shares of NIKE stock opened at $116.86 on Tuesday. The company has a current ratio of 2.69, a quick ratio of 1.78 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $181.20 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 3.92 and a beta of 1.10. The business’s 50-day moving average price is $123.81 and its 200-day moving average price is $109.61. NIKE, Inc. has a 12 month low of $82.22 and a 12 month high of $139.86.

NIKE (NYSE:NKE – Get Rating) last issued its earnings results on Tuesday, December 20th. The footwear maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.20. The company had revenue of $13.32 billion during the quarter, compared to analysts’ expectations of $12.61 billion. NIKE had a return on equity of 36.83% and a net margin of 11.47%. Sell-side analysts forecast that NIKE, Inc. will post 3.13 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 6th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Friday, March 3rd. NIKE’s dividend payout ratio is presently 38.31%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Jefferies Financial Group set a $140.00 price target on NIKE in a research report on Monday, January 2nd. Robert W. Baird upped their price target on NIKE from $120.00 to $130.00 in a research report on Wednesday, December 21st. Deutsche Bank Aktiengesellschaft upped their price target on NIKE from $126.00 to $133.00 and gave the company a “buy” rating in a research report on Wednesday, December 21st. BMO Capital Markets upped their price target on NIKE from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, December 21st. Finally, Bank of America boosted their price objective on NIKE from $112.00 to $120.00 in a research note on Wednesday, December 21st. Twelve investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $130.50.

About NIKE

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NIKE, Inc engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate.