Appleton Partners Inc. MA Has $215,000 Position in NIKE, Inc. (NYSE:NKE)

Appleton Partners Inc. MA reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 14.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 3,393 shares of the footwear maker’s stock after selling 583 shares during the quarter. Appleton Partners Inc. MA’s holdings in NIKE were worth $215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NKE. Brighton Jones LLC lifted its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker’s stock worth $14,447,000 after purchasing an additional 17,888 shares during the last quarter. Private Advisor Group LLC lifted its holdings in NIKE by 9.8% during the 4th quarter. Private Advisor Group LLC now owns 82,672 shares of the footwear maker’s stock worth $6,256,000 after purchasing an additional 7,398 shares during the last quarter. Waterfront Wealth Inc. lifted its holdings in NIKE by 1.4% during the 4th quarter. Waterfront Wealth Inc. now owns 10,757 shares of the footwear maker’s stock worth $814,000 after purchasing an additional 153 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC lifted its holdings in NIKE by 4.2% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,939 shares of the footwear maker’s stock worth $449,000 after purchasing an additional 242 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Needham & Company LLC dropped their price target on NIKE from $75.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Cfra Research upgraded NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Finally, Bank of America lowered their price objective on NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Sixteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $78.74.

NIKE Trading Up 0.4%

Shares of NKE opened at $59.78 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The business’s fifty day moving average is $59.78 and its 200-day moving average is $68.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The firm has a market cap of $88.41 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 2.11 and a beta of 1.21.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. Equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.68%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is presently 53.16%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company’s stock.

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.