Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Position in NIKE, Inc. (NYSE:NKE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 791,569 shares of the footwear maker’s stock after selling 20,684 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in NIKE were worth $50,249,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after purchasing an additional 17,888 shares during the period. IFP Advisors Inc boosted its position in NIKE by 17.9% during the fourth quarter. IFP Advisors Inc now owns 11,806 shares of the footwear maker’s stock worth $894,000 after purchasing an additional 1,789 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in NIKE by 0.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 104,494 shares of the footwear maker’s stock valued at $7,907,000 after purchasing an additional 513 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in shares of NIKE by 9.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 8,947 shares of the footwear maker’s stock valued at $677,000 after buying an additional 766 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Wells Fargo & Company increased their target price on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. China Renaissance initiated coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating on the stock. Cfra Research upgraded shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Williams Trading reduced their price target on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Finally, Piper Sandler lowered their price objective on NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $77.59.

Insider Buying and Selling

In related news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NYSE:NKE opened at $62.71 on Friday. The company’s 50-day moving average is $60.31 and its two-hundred day moving average is $67.63. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $94.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. The firm has a market capitalization of $92.75 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.23 and a beta of 1.21.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 earnings per share. Analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

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.