Trillium Asset Management LLC Increases Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Trillium Asset Management LLC has increased its stake in NIKE, Inc. by 10.2%, owning 128,239 shares valued at approximately $8.14 million, as disclosed in its recent SEC filing.
• Insider activity includes NIKE's Chairman Mark G. Parker selling 110,000 shares for around $7.95 million, resulting in an 11.55% decrease in his ownership.
• NIKE reported a quarterly revenue of $11.10 billion, surpassing analyst estimates, despite a year-over-year drop of 11.9% in revenue.

Trillium Asset Management LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 10.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,239 shares of the footwear maker's stock after acquiring an additional 11,902 shares during the quarter. Trillium Asset Management LLC's holdings in NIKE were worth $8,141,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in NIKE during the fourth quarter worth about $28,000. Putney Financial Group LLC purchased a new position in NIKE during the fourth quarter worth about $40,000. Minot DeBlois Advisors LLC purchased a new position in NIKE during the fourth quarter worth about $42,000. N.E.W. Advisory Services LLC purchased a new position in NIKE during the first quarter worth about $37,000. Finally, Roxbury Financial LLC raised 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. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Up 3.2%

NKE traded up $2.38 during trading hours on Wednesday, hitting $77.28. 13,467,677 shares of the company's stock were exchanged, compared to its average volume of 10,761,510. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The firm has a 50 day moving average of $70.49 and a 200 day moving average of $67.67. The firm has a market cap of $114.13 billion, a P/E ratio of 35.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.27. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share 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 firm had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the firm earned $0.99 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's dividend payout ratio is currently 74.07%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NKE shares. Williams Trading reduced their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Royal Bank Of Canada reduced their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research note on Friday, June 27th. Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Finally, UBS Group started coverage on shares of NIKE in a research note on Sunday, July 6th. They set a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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.