Cambridge Trust Co. Sells 145 Shares of NIKE, Inc. (NYSE:NKE)

Cambridge Trust Co. lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,808 shares of the footwear maker’s stock after selling 145 shares during the quarter. Cambridge Trust Co.’s holdings in NIKE were worth $2,151,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NKE. Morgan Stanley increased its stake in NIKE by 26.4% in the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after buying an additional 6,410,744 shares during the last quarter. Alliancebernstein L.P. raised its holdings in NIKE by 7.2% during the second quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock worth $2,469,185,000 after acquiring an additional 1,493,704 shares in the last quarter. FMR LLC boosted its position in NIKE by 0.7% during the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after purchasing an additional 125,746 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in NIKE by 139,649.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 16,813,307 shares of the footwear maker’s stock valued at $1,967,325,000 after purchasing an additional 16,801,276 shares during the last quarter. Finally, Northern Trust Corp grew 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 purchasing an additional 674,198 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NIKE stock opened at $95.36 on Friday. The firm has a market cap of $143.93 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock’s fifty day moving average price is $98.31 and its two-hundred day moving average price is $103.37. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. As a group, research analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is presently 43.53%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NKE. Stifel Nicolaus lowered their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Telsey Advisory Group cut their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Piper Sandler reduced their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Wells Fargo & Company dropped their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Finally, Jefferies Financial Group cut their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company has a consensus 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.