Massachusetts Financial Services Co. MA Reduces Holdings in NIKE, Inc. (NYSE:NKE)

Massachusetts Financial Services Co. MA reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 16.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,055,114 shares of the footwear maker’s stock after selling 1,154,754 shares during the period. Massachusetts Financial Services Co. MA’s holdings in NIKE were worth $458,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC increased its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter valued at about $28,000. Roxbury Financial LLC purchased a new stake in NIKE in the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA raised its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new position in shares of NIKE during the 4th quarter valued at about $30,000. 64.25% of the stock is currently owned by institutional investors.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

NKE has been the topic of a number of recent analyst reports. UBS Group decreased their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Truist Financial dropped their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a report on Friday, March 21st. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Cfra Research raised NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Trading Up 0.4 %

NKE stock opened at $65.04 on Thursday. The firm’s fifty day simple moving average is $73.66 and its two-hundred day simple moving average is $76.64. The stock has a market capitalization of $96.20 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $58.91 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 EPS. As a group, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

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.