Boston Trust Walden Corp Reduces Stock Position in NIKE, Inc. $NKE

Boston Trust Walden Corp reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 14.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 456,691 shares of the footwear maker’s stock after selling 79,301 shares during the period. Boston Trust Walden Corp’s holdings in NIKE were worth $32,443,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Spire Wealth Management raised its stake in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after buying an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in NIKE in the first quarter worth about $25,963,000. BROOKFIELD Corp ON raised its stake in NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after buying an additional 175,000 shares in the last quarter. Finally, Cadence Bank raised its stake in NIKE by 10.0% in the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after buying an additional 7,574 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.80% of the company’s stock.

NIKE Trading Up 0.4%

NYSE:NKE opened at $67.67 on Wednesday. The company’s 50 day moving average price is $73.52 and its 200-day moving average price is $67.33. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a market cap of $100.03 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 2.48 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the company posted $0.70 earnings per share. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.4%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NKE. Jefferies Financial Group reissued a “buy” rating and issued a $115.00 price target on shares of NIKE in a research note on Monday, September 29th. BTIG Research started coverage on shares of NIKE in a research note on Tuesday. They set a “buy” rating and a $100.00 target price for the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 target price on shares of NIKE in a research note on Wednesday, October 1st. JPMorgan Chase & Co. raised their target price on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $78.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Company 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.