Boston Family Office LLC Cuts Stock Position in NIKE, Inc. (NYSE:NKE)

Boston Family Office LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 4.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,688 shares of the footwear maker’s stock after selling 7,211 shares during the quarter. Boston Family Office LLC’s holdings in NIKE were worth $13,409,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. ING Groep NV acquired a new position in shares of NIKE in the 3rd quarter valued at $29,628,000. Cordatus Wealth Management LLC increased its stake in NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC grew its holdings in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after buying an additional 11,665 shares in the last quarter. WoodTrust Financial Corp grew its holdings in NIKE by 19.9% in the 3rd quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after buying an additional 16,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in NIKE by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after buying an additional 117,187 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Up 3.1 %

Shares of NYSE:NKE opened at $77.40 on Monday. The company’s 50-day moving average price is $80.51 and its two-hundred day moving average price is $82.52. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a market capitalization of $116.05 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.88 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 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 firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm posted $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is presently 42.41%.

Analyst Ratings Changes

A number of brokerages have issued reports on NKE. Wells Fargo & Company increased their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. UBS Group increased their target price on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

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.