Birch Hill Investment Advisors LLC Has $1.16 Million Stock Position in NIKE, Inc. $NKE

Key Points

• Birch Hill Investment Advisors LLC decreased its stake in NIKE, Inc. by 36.9%, lowering its holdings to 16,274 shares valued at approximately $1.16 million at the end of Q2.
• Chairman Mark G. Parker sold 86,078 shares of NIKE, which equates to a 10.36% decrease in his ownership, while the company also recently declared a $0.40 quarterly dividend with a yield of 2.3%.
• NKE has a market cap of $101.09 billion, and following recent earnings, analysts maintain a consensus price target of $82.21 for the stock.

Birch Hill Investment Advisors LLC decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 36.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,274 shares of the footwear maker's stock after selling 9,531 shares during the period. Birch Hill Investment Advisors LLC's holdings in NIKE were worth $1,156,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Brighton Jones LLC grew its holdings in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the period. GAMMA Investing LLC grew its holdings in shares of NIKE by 39.1% in the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock valued at $1,325,000 after buying an additional 5,863 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in NIKE by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 177,009 shares of the footwear maker's stock worth $11,236,000 after purchasing an additional 14,748 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in NIKE by 9.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 122,092 shares of the footwear maker's stock worth $7,750,000 after purchasing an additional 10,823 shares during the period. Finally, Flagship Harbor Advisors LLC boosted its stake in NIKE by 6.8% in the 1st quarter. Flagship Harbor Advisors LLC now owns 13,732 shares of the footwear maker's stock worth $872,000 after purchasing an additional 870 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Activity

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated 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 transaction, the chairman directly owned 744,988 shares of the company's stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research analyst reports. Barclays set a $70.00 target price on shares of NIKE and gave the stock a "positive" rating in a research note on Wednesday, October 1st. Evercore ISI reduced their price objective on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Citigroup upgraded shares of NIKE from a "neutral" rating to a "positive" rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Finally, KeyCorp set a $90.00 target price on shares of NIKE and gave the company an "overweight" rating in a report on Thursday, October 2nd. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $82.21.

NIKE Stock Up 1.1%

Shares of NKE stock opened at $68.39 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm's 50-day moving average is $72.84 and its 200-day moving average is $67.56. The stock has a market cap of $101.09 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.49 and a beta of 1.29. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $82.44.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion for the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.70 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's dividend payout ratio is currently 82.05%.

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.

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