NIKE, Inc. (NYSE:NKE) Shares Sold by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV trimmed its position in NIKE, Inc. (NYSE:NKE) by 27.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,102 shares of the footwear maker’s stock after selling 2,624 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in NIKE were worth $628,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NKE. Cim LLC acquired a new position in NIKE in the fourth quarter valued at approximately $14,275,000. TKG Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at $1,012,000. Spartan Planning & Wealth Management acquired a new position in shares of NIKE in the 4th quarter valued at $182,000. Advisors Asset Management Inc. grew its holdings in shares of NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after purchasing an additional 9,689 shares during the period. Finally, Enzi Wealth acquired a new stake in shares of NIKE during the 4th quarter worth about $520,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock opened at $82.26 on Friday. 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, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm’s 50 day moving average is $80.90 and its two-hundred day moving average is $86.24. The firm has a market capitalization of $124.15 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the firm posted $0.94 EPS. The company’s revenue was down 10.4% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. The Goldman Sachs Group decreased their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus lowered their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. StockNews.com lowered NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, UBS Group increased their target price on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Wednesday. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $96.04.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

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.