Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 905,878 shares of the footwear maker’s stock after selling 35,449 shares during the quarter. NIKE makes up approximately 0.9% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s investment portfolio, making the stock its 28th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in NIKE were worth $91,974,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its stake in NIKE by 0.7% in the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after acquiring an additional 125,746 shares in the last quarter. Northern Trust Corp boosted its stake in NIKE by 4.5% in the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after acquiring an additional 674,198 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $766,829,000 after acquiring an additional 89,947 shares in the last quarter. Newport Trust Company LLC acquired a new stake in NIKE in the third quarter valued at approximately $679,775,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in 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 valued at $553,786,000 after acquiring an additional 1,583,541 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NKE traded down $0.33 on Monday, reaching $94.20. The stock had a trading volume of 8,641,418 shares, compared to its average volume of 9,600,831. NIKE, Inc. has a 12-month low of $88.66 and a 12-month high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The business’s 50-day moving average price is $97.85 and its two-hundred day moving average price is $103.46. The company has a market cap of $142.18 billion, a P/E 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 for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. Sell-side analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. NIKE’s payout ratio is 43.53%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. TheStreet downgraded shares of NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Stifel Nicolaus lowered their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Morgan Stanley lowered their price objective on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research note on Wednesday, March 27th. Finally, Citigroup lowered their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

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.