Amica Retiree Medical Trust Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Amica Retiree Medical Trust cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 8.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,444 shares of the footwear maker’s stock after selling 385 shares during the quarter. Amica Retiree Medical Trust’s holdings in NIKE were worth $336,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its holdings in NIKE by 599.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker’s stock worth $70,000 after acquiring an additional 683 shares in the last quarter. D.A. Davidson & CO. boosted its stake in shares of NIKE by 11.8% during the third quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock valued at $9,278,000 after purchasing an additional 11,108 shares in the last quarter. Cadence Bank increased its holdings in NIKE by 2.8% during the third quarter. Cadence Bank now owns 55,282 shares of the footwear maker’s stock valued at $4,887,000 after buying an additional 1,520 shares during the period. Soros Capital Management LLC raised its stake in NIKE by 3.6% in the third quarter. Soros Capital Management LLC now owns 36,804 shares of the footwear maker’s stock worth $3,253,000 after buying an additional 1,264 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in NIKE by 35.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,300 shares of the footwear maker’s stock worth $9,220,000 after buying an additional 27,400 shares during the period. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Stifel Nicolaus reduced their price target on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. BMO Capital Markets lowered their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research note on Monday, March 17th. China Renaissance began coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating for the company. Finally, Guggenheim reaffirmed a “buy” rating and set a $110.00 price target on shares of NIKE in a research report on Wednesday, February 12th. Fifteen investment 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 stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Stock Down 1.2 %

Shares of NYSE NKE opened at $65.76 on Thursday. NIKE, Inc. has a 52-week low of $64.95 and a 52-week high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The company’s 50-day simple moving average is $74.42 and its 200-day simple moving average is $77.13. The firm has a market cap of $97.26 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 dividend on an annualized basis and a yield of 2.43%. NIKE’s payout ratio is presently 53.16%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by corporate insiders.

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.