Atria Wealth Solutions Inc. Trims Stake in NIKE, Inc. $NKE

Atria Wealth Solutions Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 39.9% during the second quarter, HoldingsChannel.com reports. The firm owned 22,276 shares of the footwear maker’s stock after selling 14,785 shares during the period. Atria Wealth Solutions Inc.’s holdings in NIKE were worth $1,599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new position in shares of NIKE during the first quarter worth approximately $25,000. Mascoma Wealth Management LLC purchased a new position in shares of NIKE during the second quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC increased its position in shares of NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares during the period. Saudi Central Bank purchased a new position in shares of NIKE during the first quarter worth approximately $30,000. Finally, Matrix Trust Co increased its position in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp set a $90.00 target price on shares of NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Friday, June 27th. Cowen raised shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Finally, DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.21.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $68.45 on Thursday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The company has a 50 day moving average of $73.38 and a two-hundred day moving average of $67.34. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The company has a market cap of $101.18 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 2.49 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the firm posted $0.70 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is presently 82.05%.

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.