Boston Financial Mangement LLC Decreases Stock Position in NIKE, Inc. (NYSE:NKE)

Boston Financial Mangement LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 7.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 16,530 shares of the footwear maker’s stock after selling 1,298 shares during the period. Boston Financial Mangement LLC’s holdings in NIKE were worth $1,251,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Garrison Point Advisors LLC lifted its holdings in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares during the period. PSI Advisors LLC lifted its holdings in shares of NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after buying an additional 130 shares during the period. JNBA Financial Advisors lifted its holdings in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after buying an additional 131 shares during the period. Frisch Financial Group Inc. lifted its holdings in shares of NIKE by 4.7% in the 3rd quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after buying an additional 136 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its stake in shares of NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock worth $1,547,000 after purchasing an additional 136 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Up 0.5 %

Shares of NKE stock opened at $77.19 on Friday. The stock’s 50-day simple moving average is $74.33 and its 200-day simple moving average is $78.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $114.17 billion, a PE ratio of 23.82, a P/E/G ratio of 2.53 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.62.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. Equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.07%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is 49.38%.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following 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 disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NKE has been the subject of a number of analyst reports. TD Cowen decreased their price objective on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Needham & Company LLC restated a “buy” rating and set a $84.00 price objective on shares of NIKE in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

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.