Boston Family Office LLC Has $10.96 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Boston Family Office LLC reduced its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 144,794 shares of the footwear maker's stock after selling 6,894 shares during the period. Boston Family Office LLC's holdings in NIKE were worth $10,957,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board increased its holdings in shares of NIKE by 9.7% in the third quarter. Public Sector Pension Investment Board now owns 51,000 shares of the footwear maker's stock valued at $4,508,000 after buying an additional 4,500 shares in the last quarter. PDT Partners LLC purchased a new position in shares of NIKE in the third quarter worth approximately $229,000. Erste Asset Management GmbH acquired a new stake in shares of NIKE during the third quarter valued at approximately $1,688,000. Benjamin Edwards Inc. lifted its position in shares of NIKE by 3,520.3% in the 3rd quarter. Benjamin Edwards Inc. now owns 106,146 shares of the footwear maker's stock valued at $9,383,000 after acquiring an additional 103,214 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its stake in NIKE by 74.8% in the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 7,832 shares of the footwear maker's stock worth $692,000 after purchasing an additional 3,352 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NKE. Cfra Research upgraded NIKE to a "moderate buy" rating in a report on Friday, March 21st. UBS Group reduced their price objective on NIKE from $73.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company reduced their price target on shares of NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Robert W. Baird lowered their price objective on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Finally, Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Fifteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus price target of $87.38.

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Insider Activity at NIKE

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

NIKE Stock Performance

NKE traded up $0.28 on Wednesday, hitting $65.04. 10,774,673 shares of the stock traded hands, compared to its average volume of 12,953,855. The business has a fifty day moving average price of $73.84 and a two-hundred day moving average price of $76.72. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $96.20 billion, a PE ratio of 20.07, a P/E/G ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 52 week low of $60.09 and a 52 week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's quarterly revenue was down 9.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.46%. NIKE's dividend payout ratio (DPR) is currently 53.16%.

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.