Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Stake in NIKE, Inc. (NYSE:NKE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in NIKE, Inc. (NYSE:NKE) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 866,840 shares of the footwear maker’s stock after selling 15,814 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.06% of NIKE worth $76,629,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NKE. Transcendent Capital Group LLC lifted its stake in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in shares of NIKE in the second quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of NIKE in the second quarter valued at approximately $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NKE shares. Evercore ISI lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Morgan Stanley boosted their price target 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. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Sanford C. Bernstein decreased their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Down 1.2 %

Shares of NIKE stock traded down $0.91 during trading hours on Wednesday, reaching $77.49. 1,571,121 shares of the company were exchanged, compared to its average volume of 11,514,966. The firm has a market cap of $116.19 billion, a PE ratio of 22.48, a PEG ratio of 1.90 and a beta of 1.02. The stock’s fifty day moving average is $82.52 and its 200 day moving average is $84.72. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the company earned $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, equities research analysts forecast that NIKE, Inc. will post 2.76 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.91%. NIKE’s dividend payout ratio is currently 42.41%.

Insiders Place Their Bets

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 of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.