Atria Wealth Solutions Inc. Sells 4,922 Shares of NIKE, Inc. (NYSE:NKE)

Atria Wealth Solutions Inc. cut its position in NIKE, Inc. (NYSE:NKE) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,612 shares of the footwear maker’s stock after selling 4,922 shares during the period. Atria Wealth Solutions Inc.’s holdings in NIKE were worth $2,860,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Foundations Investment Advisors LLC increased its position in shares of NIKE by 26.5% during the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock worth $425,000 after acquiring an additional 1,006 shares in the last quarter. Private Advisor Group LLC boosted its stake in NIKE by 2.9% during the 3rd quarter. Private Advisor Group LLC now owns 75,274 shares of the footwear maker’s stock valued at $6,654,000 after purchasing an additional 2,108 shares during the last quarter. McAdam LLC boosted its stake in NIKE by 6.3% during the 3rd quarter. McAdam LLC now owns 2,852 shares of the footwear maker’s stock valued at $252,000 after purchasing an additional 169 shares during the last quarter. PSI Advisors LLC boosted its stake in NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares during the last quarter. Finally, HT Partners LLC acquired a new position in NIKE during the 3rd quarter valued at about $226,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NKE shares. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and cut their price target for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Bank of America cut their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 price target on shares of NIKE in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.62.

NIKE Price Performance

NIKE stock opened at $76.50 on Friday. The business’s 50 day simple moving average is $74.31 and its 200 day simple moving average is $78.09. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $106.62. The company has a market cap of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.50 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. NIKE’s payout ratio is 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

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.