Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 40,711 Shares of NIKE, Inc. $NKE

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors sold 40,711 shares of NIKE, Inc., reducing their stake by 5.1%, leaving them with approximately 750,858 shares valued at $53.34 million at the end of the last quarter.
• Analysts show a mixed outlook on NIKE, with TD Cowen upgrading their rating to "buy" and raising the price target to $85.00, while others like Stifel Nicolaus maintain a "hold" rating with a target of $68.00.
• NIKE reported earnings of $0.49 per share for the last quarter, significantly beating analysts' consensus estimates, and achieved revenues of $11.72 billion, surpassing expectations of $10.96 billion.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 750,858 shares of the footwear maker's stock after selling 40,711 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.05% of NIKE worth $53,341,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of NIKE by 1.0% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker's stock valued at $1,007,000 after purchasing an additional 134 shares during the period. Caldwell Sutter Capital Inc. grew its stake in shares of NIKE by 6.3% in the 2nd quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock valued at $170,000 after purchasing an additional 142 shares during the period. Salomon & Ludwin LLC grew its stake in shares of NIKE by 10.1% in the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker's stock valued at $120,000 after purchasing an additional 145 shares during the period. Westmount Partners LLC grew its stake in shares of NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock valued at $367,000 after purchasing an additional 146 shares during the period. Finally, HB Wealth Management LLC grew its stake in shares of NIKE by 0.3% in the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock valued at $3,695,000 after purchasing an additional 147 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NKE. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the company a "hold" rating in a research note on Wednesday, October 1st. TD Cowen raised NIKE from a "hold" rating to a "buy" rating and upped their price objective for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. UBS Group set a $71.00 price objective on NIKE and gave the stock a "neutral" rating in a report on Friday, September 19th. Argus raised NIKE to a "buy" rating in a research note on Sunday, July 6th. Finally, Citigroup raised NIKE from a "neutral" rating to a "positive" rating in a research note on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and a consensus target price of $82.21.

NIKE Price Performance

NKE stock opened at $69.03 on Thursday. The stock has a 50-day moving average price of $72.67 and a two-hundred day moving average price of $67.57. The stock has a market cap of $102.03 billion, a PE ratio of 35.40, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $11.72 billion during the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio (DPR) is 82.05%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE 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 completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of NIKE stock in a transaction that occurred on 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 owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.80% of the company's stock.

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.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.