MassMutual Private Wealth & Trust FSB Boosts Stake in NIKE, Inc. (NYSE:NKE)

MassMutual Private Wealth & Trust FSB lifted its holdings in NIKE, Inc. (NYSE:NKE) by 13.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,319 shares of the footwear maker’s stock after buying an additional 849 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in NIKE were worth $465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NKE. Prostatis Group LLC raised its stake in NIKE by 29.9% during the fourth quarter. Prostatis Group LLC now owns 13,705 shares of the footwear maker’s stock worth $1,037,000 after purchasing an additional 3,153 shares during the period. Centaurus Financial Inc. raised its stake in NIKE by 9.6% during the fourth quarter. Centaurus Financial Inc. now owns 2,258 shares of the footwear maker’s stock worth $171,000 after purchasing an additional 198 shares during the period. Aegis Wealth Management LLC purchased a new position in NIKE during the fourth quarter worth about $295,000. Copia Wealth Management purchased a new position in NIKE during the fourth quarter worth about $358,000. Finally, Wood Tarver Financial Group LLC purchased a new position in NIKE during the fourth quarter worth about $57,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Citigroup reduced their target price on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a research note on Monday, April 28th. Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a research note on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Finally, Stifel Nicolaus reduced their price target on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Seventeen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.26.

NIKE Trading Down 1.5%

NYSE NKE opened at $60.52 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The stock has a market capitalization of $89.52 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The firm has a 50 day moving average of $59.08 and a two-hundred day moving average of $69.63.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The firm’s revenue was down 9.1% on a year-over-year basis. As a group, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared 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 2.64%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan purchased 8,600 shares of the stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

NIKE Company 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.