Birch Hill Investment Advisors LLC Sells 11,117 Shares of NIKE, Inc. (NYSE:NKE)

Birch Hill Investment Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 30.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,805 shares of the footwear maker's stock after selling 11,117 shares during the quarter. Birch Hill Investment Advisors LLC's holdings in NIKE were worth $1,638,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. boosted its holdings in NIKE by 7.0% in the first quarter. Rakuten Securities Inc. now owns 8,372 shares of the footwear maker's stock valued at $531,000 after purchasing an additional 550 shares during the last quarter. NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd purchased a new stake in shares of NIKE during the 1st quarter worth about $12,651,000. Chicago Capital LLC grew its position in shares of NIKE by 71.7% during the 1st quarter. Chicago Capital LLC now owns 15,224 shares of the footwear maker's stock valued at $966,000 after acquiring an additional 6,355 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI increased its holdings in NIKE by 14.1% in the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 134,902 shares of the footwear maker's stock worth $8,564,000 after acquiring an additional 16,620 shares in the last quarter. Finally, Inscription Capital LLC purchased a new position in NIKE in the 1st quarter valued at about $10,815,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NKE. BMO Capital Markets dropped their price target on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Wells Fargo & Company lifted 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. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Williams Trading dropped their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Seventeen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $80.26.

Insider Activity

In other news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was bought at an average cost 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 approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

NIKE Stock Up 2.3%

NKE opened at $61.90 on Tuesday. The business has a 50 day moving average of $59.56 and a 200-day moving average of $68.48. The stock has a market capitalization of $91.55 billion, a price-to-earnings ratio of 19.10, a P/E/G ratio of 2.52 and a beta of 1.21. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.58%. NIKE's payout ratio is presently 53.16%.

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.

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