Massachusetts Financial Services Co. MA Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Massachusetts Financial Services Co. MA cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 16.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,055,114 shares of the footwear maker’s stock after selling 1,154,754 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.41% of NIKE worth $458,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $28,000. Caitlin John LLC boosted its position in NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Roxbury Financial LLC bought a new stake in NIKE in the 4th quarter worth $30,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. bought a new position in shares of NIKE during the fourth quarter valued at about $30,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Up 0.4 %

NIKE stock opened at $65.04 on Thursday. NIKE, Inc. has a 12 month low of $58.91 and a 12 month high of $98.04. The stock has a fifty day simple moving average of $73.66 and a two-hundred day simple moving average of $76.64. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market cap of $96.20 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the company earned $0.98 EPS. NIKE’s revenue for the quarter was down 9.1% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. NIKE’s payout ratio is 53.16%.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction 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 sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NKE. Wells Fargo & Company reduced their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. UBS Group decreased their target price on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, March 21st. Needham & Company LLC dropped their price target on NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and boosted their price objective for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

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.