NIKE, Inc. (NYSE:NKE) Position Cut by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 94.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,022 shares of the footwear maker's stock after selling 106,464 shares during the quarter. Congress Wealth Management LLC DE's holdings in NIKE were worth $456,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock valued at $516,166,000 after acquiring an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of NIKE by 18.1% in the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in NIKE by 358.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker's stock valued at $228,165,000 after purchasing an additional 2,357,745 shares during the period. Raymond James Financial Inc. acquired a new position in NIKE during the fourth quarter worth approximately $156,438,000. Finally, State Street Corp raised its stake in NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock worth $5,140,796,000 after purchasing an additional 1,862,021 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

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Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Citigroup cut shares of NIKE from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $80.00 price target on shares of NIKE in a research report on Monday, March 17th. Guggenheim reiterated a "buy" rating and issued a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Needham & Company LLC reduced their price objective on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Finally, Bank of America lowered their target price on NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $87.38.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

NKE traded down $0.18 during trading hours on Monday, hitting $63.11. 8,552,284 shares of the stock were exchanged, compared to its average volume of 12,914,756. The stock has a market cap of $93.35 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The stock has a 50-day simple moving average of $74.16 and a 200-day simple moving average of $76.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 12 month low of $62.41 and a 12 month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

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 $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.54%. NIKE's dividend payout ratio is currently 53.16%.

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.