Boston Family Office LLC trimmed its position in shares of Nike Inc (NYSE:NKE) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 175,568 shares of the footwear maker’s stock after selling 5,588 shares during the period. Nike comprises 1.6% of Boston Family Office LLC’s investment portfolio, making the stock its 12th largest position. Boston Family Office LLC’s holdings in Nike were worth $13,017,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Baystate Wealth Management LLC increased its stake in Nike by 5.8% in the 4th quarter. Baystate Wealth Management LLC now owns 2,304 shares of the footwear maker’s stock worth $185,000 after purchasing an additional 127 shares during the period. Lee Danner & Bass Inc. increased its stake in Nike by 2.9% in the 4th quarter. Lee Danner & Bass Inc. now owns 5,071 shares of the footwear maker’s stock worth $376,000 after purchasing an additional 144 shares during the period. Gemmer Asset Management LLC increased its stake in Nike by 54.2% in the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares during the period. Wealth Architects LLC increased its stake in Nike by 4.5% in the 4th quarter. Wealth Architects LLC now owns 3,693 shares of the footwear maker’s stock worth $274,000 after purchasing an additional 158 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in Nike by 1.1% in the 4th quarter. Pinnacle Associates Ltd. now owns 15,600 shares of the footwear maker’s stock worth $1,157,000 after purchasing an additional 166 shares during the period. 64.85% of the stock is currently owned by institutional investors.
NYSE NKE opened at $86.80 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.40 and a current ratio of 2.14. Nike Inc has a twelve month low of $63.21 and a twelve month high of $87.99. The company has a market cap of $136.72 billion, a P/E ratio of 35.87, a PEG ratio of 2.64 and a beta of 0.68.
Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, December 20th. The footwear maker reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.06. Nike had a return on equity of 44.85% and a net margin of 5.66%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.17 billion. During the same period in the previous year, the company posted $0.46 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Research analysts predict that Nike Inc will post 2.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 4th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, March 1st. This represents a $0.88 annualized dividend and a dividend yield of 1.01%. Nike’s dividend payout ratio is presently 36.36%.
In other Nike news, Chairman Mark G. Parker sold 150,000 shares of the business’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $73.68, for a total value of $11,052,000.00. Following the sale, the chairman now directly owns 1,687,863 shares of the company’s stock, valued at $124,361,745.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John F. Slusher sold 200,000 shares of the business’s stock in a transaction on Wednesday, January 2nd. The stock was sold at an average price of $74.05, for a total value of $14,810,000.00. Following the completion of the sale, the executive vice president now directly owns 284,805 shares in the company, valued at $21,089,810.25. The disclosure for this sale can be found here. Insiders have sold 800,000 shares of company stock worth $61,862,000 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on NKE shares. Robert W. Baird reaffirmed a “buy” rating and issued a $94.00 price target on shares of Nike in a research note on Monday, November 19th. Wells Fargo & Co set a $82.00 target price on Nike and gave the company a “neutral” rating in a research note on Monday, November 19th. Macquarie set a $98.00 target price on Nike and gave the company a “buy” rating in a research note on Tuesday, November 20th. Zacks Investment Research cut Nike from a “hold” rating to a “sell” rating in a research note on Tuesday, November 27th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $85.00 target price on shares of Nike in a research note on Monday, December 3rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the stock. Nike has an average rating of “Buy” and a consensus price target of $84.59.
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Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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