Massachusetts Financial Services Co. MA Has $454.15 Million Position in NIKE, Inc. (NYSE:NKE)

Massachusetts Financial Services Co. MA lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 0.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,025,616 shares of the footwear maker’s stock after buying an additional 52,500 shares during the period. Massachusetts Financial Services Co. MA owned about 0.40% of NIKE worth $454,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Angeles Investment Advisors LLC acquired a new position in shares of NIKE during the second quarter worth about $319,000. Marble Harbor Investment Counsel LLC raised its holdings in NIKE by 2.0% during the second quarter. Marble Harbor Investment Counsel LLC now owns 8,835 shares of the footwear maker’s stock worth $666,000 after acquiring an additional 175 shares in the last quarter. Fairfield Financial Advisors LTD bought a new stake in NIKE during the second quarter worth about $102,000. Quilter Plc raised its holdings in NIKE by 10.0% during the second quarter. Quilter Plc now owns 389,224 shares of the footwear maker’s stock worth $29,336,000 after acquiring an additional 35,277 shares in the last quarter. Finally, Kennon Green & Company LLC raised its holdings in NIKE by 98.4% during the second quarter. Kennon Green & Company LLC now owns 18,387 shares of the footwear maker’s stock worth $1,386,000 after acquiring an additional 9,119 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NKE shares. HSBC dropped their target price on NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Bank of America dropped their target price on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Jefferies Financial Group dropped their target price on NIKE from $90.00 to $80.00 in a report on Friday, July 12th. Guggenheim dropped their price objective on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Stifel Nicolaus dropped their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Trading Up 1.0 %

Shares of NYSE:NKE opened at $79.82 on Tuesday. The company has a market capitalization of $120.48 billion, a P/E ratio of 21.40, a P/E/G ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The business’s 50 day simple moving average is $77.36 and its 200 day simple moving average is $87.47.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

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.