Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 35,449 Shares of NIKE, Inc. (NYSE:NKE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 905,878 shares of the footwear maker’s stock after selling 35,449 shares during the period. NIKE comprises about 0.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 28th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.06% of NIKE worth $91,974,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NKE. FMR LLC increased its holdings in shares of NIKE by 0.7% in the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after buying an additional 125,746 shares during the period. Northern Trust Corp increased its holdings in shares of NIKE by 4.5% in the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after buying an additional 674,198 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of NIKE by 1.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,200,932 shares of the footwear maker’s stock worth $766,829,000 after buying an additional 89,947 shares during the period. Newport Trust Company LLC purchased a new position in shares of NIKE in the third quarter worth about $679,775,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of NIKE by 37.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after buying an additional 1,583,541 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of several analyst reports. The Goldman Sachs Group decreased their price objective on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Telsey Advisory Group reduced their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Sanford C. Bernstein reduced their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Morgan Stanley reduced their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Down 0.3 %

Shares of NKE traded down $0.33 during mid-day trading on Monday, reaching $94.20. The company had a trading volume of 8,641,418 shares, compared to its average volume of 9,600,831. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The firm has a 50-day moving average price of $97.85 and a 200 day moving average price of $103.46. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The company has a market capitalization of $142.18 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 1.82 and a beta of 1.09.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, sell-side analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.