NIKE, Inc. (NYSE:NKE) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC lowered its position in NIKE, Inc. (NYSE:NKE) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,648 shares of the footwear maker’s stock after selling 450 shares during the period. Birch Hill Investment Advisors LLC’s holdings in NIKE were worth $2,235,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NKE. Annapolis Financial Services LLC lifted its holdings in shares of NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC lifted its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after buying an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in NIKE during the 4th quarter valued at $33,000. Core Wealth Advisors Inc. increased its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new position in shares of NIKE in the fourth quarter worth $36,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Wedbush decreased their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and set a $79.00 price objective (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Jefferies Financial Group lowered their target price on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $83.00 price target (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.59.

NIKE Price Performance

NKE opened at $83.32 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a 50 day moving average of $77.91 and a two-hundred day moving average of $89.60. The company has a market cap of $124.93 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the prior year, the company earned $0.66 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 3.1 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

NIKE 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.