Boston Financial Mangement LLC Lowers Position in NIKE, Inc. (NYSE:NKE)

Boston Financial Mangement LLC lessened its holdings in NIKE, Inc. (NYSE:NKE) by 7.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,530 shares of the footwear maker’s stock after selling 1,298 shares during the period. Boston Financial Mangement LLC’s holdings in NIKE were worth $1,251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in NIKE by 187.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock valued at $28,641,000 after purchasing an additional 211,461 shares in the last quarter. Foundations Investment Advisors LLC raised its position in NIKE by 26.5% during the third quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock valued at $425,000 after purchasing an additional 1,006 shares in the last quarter. Private Advisor Group LLC raised its position in NIKE by 2.9% during the third 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 in the last quarter. Elevated Capital Advisors LLC purchased a new stake in NIKE during the third quarter valued at about $226,000. Finally, Wallington Asset Management LLC purchased a new stake in NIKE during the third quarter valued at about $230,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction 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 trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired 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 directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NKE. Truist Financial lowered their price target on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. BMO Capital Markets raised their price objective on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Finally, Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective on shares of NIKE in a research note on Wednesday, February 12th. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Performance

NIKE stock opened at $77.19 on Friday. The stock’s 50 day simple moving average is $74.33 and its two-hundred day simple moving average is $78.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market cap of $114.17 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 2.53 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.62.

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

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.07%. NIKE’s payout ratio is 49.38%.

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.