Boston Financial Mangement LLC Sells 321 Shares of NIKE, Inc. (NYSE:NKE)

Boston Financial Mangement LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,828 shares of the footwear maker’s stock after selling 321 shares during the quarter. Boston Financial Mangement LLC’s holdings in NIKE were worth $1,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Nisa Investment Advisors LLC boosted its position in shares of NIKE by 40.2% in the third quarter. Nisa Investment Advisors LLC now owns 572,746 shares of the footwear maker’s stock worth $50,810,000 after purchasing an additional 164,101 shares during the period. Asahi Life Asset Management CO. LTD. boosted its position in shares of NIKE by 3.6% during the third quarter. Asahi Life Asset Management CO. LTD. now owns 9,343 shares of the footwear maker’s stock worth $826,000 after acquiring an additional 323 shares during the last quarter. Welch Group LLC bought a new position in shares of NIKE during the third quarter worth $223,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of NIKE during the third quarter worth $218,000. Finally, Smithbridge Asset Management Inc. DE boosted its position in shares of NIKE by 5.4% during the third quarter. Smithbridge Asset Management Inc. DE now owns 48,390 shares of the footwear maker’s stock worth $4,278,000 after acquiring an additional 2,467 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research reports. Bank of America dropped their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Piper Sandler restated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Morgan Stanley increased their price objective on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Guggenheim lowered their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $78.44 on Wednesday. The firm’s fifty day simple moving average is $82.52 and its two-hundred day simple moving average is $84.72. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The firm has a market capitalization of $117.61 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 2.76 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.89%. NIKE’s payout ratio is currently 42.41%.

NIKE 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.