NIKE, Inc. (NYSE:NKE) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. cut its stake in NIKE, Inc. (NYSE:NKE) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,633 shares of the footwear maker’s stock after selling 1,873 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in NIKE were worth $2,663,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its holdings in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP raised its holdings in NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after acquiring an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC raised its holdings in NIKE by 1.0% in the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after acquiring an additional 251,411 shares in the last quarter. Legal & General Group Plc raised its holdings in NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after acquiring an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in NIKE by 6.0% in the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after acquiring an additional 583,207 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Bank of America lowered their target price on shares of NIKE from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, December 5th. UBS Group lowered their target price on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Guggenheim lowered their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC assumed coverage on shares of NIKE in a research note on Friday, November 22nd. They set a “buy” rating and a $84.00 target price for the company. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.04.

NIKE Stock Performance

NYSE:NKE opened at $77.25 on Monday. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $78.52 and a 200-day moving average of $81.06. The firm has a market cap of $115.83 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm posted $0.94 EPS. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.73 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

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.