Boston Family Office LLC Trims Holdings in NIKE, Inc. $NKE

Key Points

• Boston Family Office LLC has reduced its stake in NIKE, Inc. by 7.2%, now holding 134,367 shares valued at approximately $8.53 million.
• NIKE's Chairman, Mark G. Parker, sold 110,000 shares of the company, reducing his ownership by 11.55% and leaving him with shares worth about $60.89 million.
• The company announced a quarterly dividend of $0.40 to be paid on October 1st, representing an annualized yield of 2.1% with a dividend payout ratio of 74.07%.

Boston Family Office LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,367 shares of the footwear maker's stock after selling 10,427 shares during the period. Boston Family Office LLC's holdings in NIKE were worth $8,530,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NKE. Stone House Investment Management LLC acquired a new stake in NIKE during the first quarter worth approximately $25,000. Heck Capital Advisors LLC acquired a new stake in NIKE during the fourth quarter worth approximately $28,000. Roxbury Financial LLC grew its stake in NIKE by 52.1% during the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after purchasing an additional 201 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in NIKE during the first quarter worth approximately $37,000. Finally, Putney Financial Group LLC acquired a new stake in NIKE during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the topic of several recent research reports. DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 price target on the stock. in a report on Thursday, July 10th. Truist Financial cut their price target on NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a report on Tuesday, June 24th. Needham & Company LLC raised their target price on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a report on Friday, June 27th. Barclays raised their target price on NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Finally, Evercore ISI dropped their target price on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $78.22.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

NYSE:NKE traded up $0.46 during trading hours on Monday, reaching $77.43. The stock had a trading volume of 9,066,871 shares, compared to its average volume of 10,973,551. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a 50 day simple moving average of $71.36 and a 200 day simple moving average of $67.56. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The stock has a market cap of $114.36 billion, a P/E ratio of 35.85, a price-to-earnings-growth ratio of 2.80 and a beta of 1.27.

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

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

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.