Rockland Trust Co. cut its holdings in Nike Inc (NYSE:NKE) by 5.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,139 shares of the footwear maker’s stock after selling 6,625 shares during the period. Rockland Trust Co.’s holdings in Nike were worth $9,443,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans grew its stake in Nike by 42.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 2,133,675 shares of the footwear maker’s stock worth $158,219,000 after buying an additional 635,410 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Nike during the first quarter worth about $202,000. Brinker Capital Inc. grew its stake in Nike by 4.1% during the fourth quarter. Brinker Capital Inc. now owns 85,941 shares of the footwear maker’s stock worth $6,375,000 after buying an additional 3,400 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Nike by 14.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 47,918 shares of the footwear maker’s stock worth $3,552,000 after buying an additional 6,157 shares in the last quarter. Finally, ETRADE Capital Management LLC grew its stake in Nike by 11.8% during the fourth quarter. ETRADE Capital Management LLC now owns 11,907 shares of the footwear maker’s stock worth $883,000 after buying an additional 1,259 shares in the last quarter. Institutional investors and hedge funds own 65.62% of the company’s stock.

Shares of NYSE NKE opened at $84.28 on Wednesday. The company has a market capitalization of $132.64 billion, a P/E ratio of 34.83, a price-to-earnings-growth ratio of 2.57 and a beta of 0.67. Nike Inc has a 1 year low of $64.99 and a 1 year high of $88.59. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.03. The business had revenue of $9.61 billion during the quarter, compared to analyst estimates of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the business earned $0.68 EPS. Analysts forecast that Nike Inc will post 2.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were issued a $0.22 dividend. The ex-dividend date was Friday, March 1st. This represents a $0.88 dividend on an annualized basis and a yield of 1.04%. Nike’s dividend payout ratio (DPR) is presently 36.36%.

In other Nike news, EVP John F. Slusher sold 110,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction that occurred on Friday, January 18th. The stock was sold at an average price of $80.00, for a total transaction of $12,000,000.00. Following the transaction, the chief executive officer now owns 1,687,863 shares of the company’s stock, valued at approximately $135,029,040. The disclosure for this sale can be found here. In the last quarter, insiders sold 576,500 shares of company stock valued at $46,807,665. 3.90% of the stock is owned by company insiders.

NKE has been the topic of a number of analyst reports. Morgan Stanley set a $103.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Tuesday, December 11th. Canaccord Genuity reiterated a “buy” rating and set a $95.00 price objective on shares of Nike in a research note on Monday, December 17th. Guggenheim reiterated a “buy” rating and set a $90.00 price objective on shares of Nike in a research note on Friday, December 21st. UBS Group raised their price target on shares of Nike from $77.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, December 21st. Finally, JPMorgan Chase & Co. upgraded shares of Nike from a “neutral” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Friday, December 21st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $86.93.

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Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Read More: Understanding each part of a balance sheet

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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