Boston Trust Walden Corp Sells 79,301 Shares of NIKE, Inc. $NKE

Key Points

• Boston Trust Walden Corp has reduced its stake in NIKE, Inc. by 14.8%, selling 79,301 shares and now holds 456,691 shares valued at approximately $32.4 million.
• NIKE's recently reported quarterly earnings showed $0.49 earnings per share (EPS), surpassing estimates by $0.22, with a revenue of $11.72 billion compared to analyst expectations of $10.96 billion.
• Several analysts have upgraded their ratings on NIKE, with a consensus rating of "Moderate Buy" and an average target price of $82.21 per share.

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

A number of other hedge funds and other institutional investors have also bought and sold shares of NKE. Brighton Jones LLC increased its holdings in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. GAMMA Investing LLC increased its holdings in shares of NIKE by 39.1% in the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker's stock worth $1,325,000 after purchasing an additional 5,863 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of NIKE by 9.1% in the first 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. Ritholtz Wealth Management increased its holdings in shares of NIKE by 30.6% in the first quarter. Ritholtz Wealth Management now owns 8,939 shares of the footwear maker's stock worth $567,000 after purchasing an additional 2,095 shares during the period. Finally, Trust Point Inc. increased its holdings in shares of NIKE by 17.5% in the first quarter. Trust Point Inc. now owns 5,532 shares of the footwear maker's stock worth $351,000 after purchasing an additional 822 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

NYSE NKE opened at $67.67 on Wednesday. The company has a 50-day simple moving average of $73.52 and a two-hundred day simple moving average of $67.33. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The firm 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 - Get Free Report) last posted its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The company's revenue was up 1.0% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio is presently 82.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NKE shares. Weiss Ratings raised shares of NIKE from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the stock a "buy" rating in a report on Thursday, September 25th. KeyCorp set a $90.00 price target on shares of NIKE and gave the stock an "overweight" rating in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of NIKE from $93.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.21.

Insider Activity

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the company's 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 sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company's stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company's stock.

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.

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