NIKE, Inc. (NYSE:NKE) Stock Position Decreased by Northeast Investment Management

Northeast Investment Management trimmed its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 27.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,374 shares of the footwear maker's stock after selling 16,681 shares during the period. Northeast Investment Management's holdings in NIKE were worth $2,817,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Alhambra Investment Management LLC raised its position in shares of NIKE by 23.1% in the 1st quarter. Alhambra Investment Management LLC now owns 5,973 shares of the footwear maker's stock valued at $379,000 after purchasing an additional 1,121 shares in the last quarter. Trueblood Wealth Management LLC acquired a new stake in shares of NIKE during the 1st quarter valued at approximately $256,000. Terra Alpha Investments LLC raised its position in shares of NIKE by 4.8% during the 1st quarter. Terra Alpha Investments LLC now owns 25,597 shares of the footwear maker's stock valued at $1,625,000 after acquiring an additional 1,164 shares in the last quarter. Petredis Investment Advisors LLC raised its position in shares of NIKE by 1.3% during the 1st quarter. Petredis Investment Advisors LLC now owns 17,985 shares of the footwear maker's stock valued at $1,142,000 after acquiring an additional 238 shares in the last quarter. Finally, Dividend Assets Capital LLC raised its position in shares of NIKE by 29.9% during the 1st quarter. Dividend Assets Capital LLC now owns 92,146 shares of the footwear maker's stock valued at $5,849,000 after acquiring an additional 21,199 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on NKE shares. Barclays dropped their price target on NIKE from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Stifel Nicolaus dropped their price target on NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Dbs Bank raised NIKE from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Cfra Research raised NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Finally, China Renaissance assumed coverage on NIKE in a research report on Wednesday, March 19th. They issued a "hold" rating on the stock. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average price target of $80.26.

NIKE Price Performance

NKE stock traded down $0.30 during trading hours on Thursday, hitting $62.81. 9,823,572 shares of the stock traded hands, compared to its average volume of 15,136,668. The stock has a 50-day simple moving average of $59.23 and a 200 day simple moving average of $68.85. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a market cap of $92.90 billion, a P/E ratio of 19.39, 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 (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion during the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter last year, the business posted $0.98 earnings per share. The company's quarterly revenue was down 9.1% on a year-over-year basis. Equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is 53.16%.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by company insiders.

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.