Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Trims Stake in NIKE, Inc. (NYSE:NKE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 791,569 shares of the footwear maker's stock after selling 20,684 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.05% of NIKE worth $50,249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Brighton Jones LLC lifted its stake in 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 purchasing an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after acquiring an additional 17,888 shares during the last quarter. IFP Advisors Inc raised its stake in NIKE by 17.9% in the 4th quarter. IFP Advisors Inc now owns 11,806 shares of the footwear maker's stock valued at $894,000 after acquiring an additional 1,789 shares during the period. Los Angeles Capital Management LLC raised its stake in NIKE by 0.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 104,494 shares of the footwear maker's stock valued at $7,907,000 after acquiring an additional 513 shares during the period. Finally, Checchi Capital Advisers LLC lifted its holdings in NIKE by 9.4% during the 4th quarter. Checchi Capital Advisers LLC now owns 8,947 shares of the footwear maker's stock valued at $677,000 after purchasing an additional 766 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NYSE:NKE traded down $0.98 during midday trading on Monday, reaching $71.06. The company had a trading volume of 26,617,202 shares, compared to its average volume of 17,985,258. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company's 50 day moving average price is $60.63 and its 200 day moving average price is $67.44. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market cap of $105.11 billion, a P/E ratio of 32.90, a P/E/G ratio of 2.73 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business posted $0.99 EPS. NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. NIKE's payout ratio is 53.16%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NKE. JPMorgan Chase & Co. upped their price objective on shares of NIKE from $56.00 to $64.00 and gave the company a "neutral" rating in a report on Friday. Robert W. Baird upped their price target on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research note on Friday. Morgan Stanley raised their price objective on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group increased their target price on NIKE from $72.00 to $81.00 and gave the stock a "buy" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.00.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% 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.