Massachusetts Financial Services Co. MA Sells 810,274 Shares of NIKE, Inc. (NYSE:NKE)

Massachusetts Financial Services Co. MA trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 14.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,981,257 shares of the footwear maker's stock after selling 810,274 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.33% of NIKE worth $540,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Excalibur Management Corp raised its holdings in NIKE by 1.9% in the 3rd quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker's stock worth $492,000 after acquiring an additional 98 shares during the last quarter. Cairn Investment Group Inc. lifted its holdings in shares of NIKE by 4.2% during the third quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker's stock valued at $239,000 after purchasing an additional 100 shares in the last quarter. Tiemann Investment Advisors LLC boosted its position in shares of NIKE by 3.1% during the third quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker's stock valued at $319,000 after buying an additional 100 shares during the last quarter. Piscataqua Savings Bank increased its holdings in NIKE by 2.1% in the 4th quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker's stock worth $528,000 after buying an additional 100 shares in the last quarter. Finally, Physicians Financial Services Inc. raised its position in NIKE by 0.6% in the 4th quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker's stock worth $1,745,000 after buying an additional 100 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In other news, VP Johanna Nielsen sold 282 shares of the business's stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company's stock, valued at approximately $68,357.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the firm's stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares of the company's stock, valued at $4,236,917.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the business's stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company's stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Company insiders own 0.50% of the company's stock.

NIKE Price Performance

Shares of NKE stock traded up $1.78 on Monday, reaching $92.72. The company's stock had a trading volume of 8,736,377 shares, compared to its average volume of 9,164,208. The stock's fifty day simple moving average is $94.64 and its 200-day simple moving average is $102.67. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $123.39. The company has a market capitalization of $139.95 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 1.75 and a beta of 1.07. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to analysts' expectations of $12.28 billion. Analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Monday, June 3rd. NIKE's payout ratio is 43.53%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NKE shares. Truist Financial reiterated a "hold" rating and issued a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Piper Sandler reduced their price objective on NIKE from $107.00 to $98.00 and set a "neutral" rating for the company in a research report on Friday, March 22nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $100.00 target price (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Robert W. Baird reduced their price target on shares of NIKE from $140.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, March 22nd. Finally, UBS Group dropped their price objective on shares of NIKE from $138.00 to $125.00 and set a "buy" rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $116.26.

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.

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.