Massmutual Trust Co. FSB ADV Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Massmutual Trust Co. FSB ADV reduced its position in NIKE, Inc. (NYSE:NKE) by 2.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,726 shares of the footwear maker’s stock after selling 274 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in NIKE were worth $733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC increased its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the last quarter. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% in the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in NIKE in the fourth quarter worth $33,000. Finally, Gold Investment Management Ltd. bought a new stake in NIKE in the 4th quarter worth $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Jefferies Financial Group reduced their price target on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Citigroup reduced their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group lowered their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Robert W. Baird decreased their price objective on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $79.00 price target (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $96.30.

NIKE Stock Up 1.5 %

NIKE stock traded up $1.08 during midday trading on Tuesday, hitting $72.50. 13,332,906 shares of the company were exchanged, compared to its average volume of 11,444,667. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a market cap of $109.43 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The company’s fifty day moving average price is $83.31 and its 200-day moving average price is $92.37.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 earnings per share. On average, research analysts predict that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 2.04%. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 278,660 shares of company stock valued at $23,735,833. Insiders own 0.50% of the company’s stock.

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.