Eastern Bank Has $1.55 Million Position in NIKE, Inc. (NYSE:NKE)

Eastern Bank boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 250.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,532 shares of the footwear maker’s stock after acquiring an additional 12,535 shares during the quarter. Eastern Bank’s holdings in NIKE were worth $1,550,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ascent Wealth Partners LLC lifted its position in NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares in the last quarter. Condor Capital Management raised its holdings in NIKE by 0.4% during the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares in the last quarter. Lodestone Wealth Management LLC boosted its position in NIKE by 5.5% during the first quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after purchasing an additional 118 shares during the last quarter. Nvwm LLC grew its stake in NIKE by 1.0% in the first quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after purchasing an additional 120 shares in the last quarter. Finally, Stephens Consulting LLC increased its position in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 0.1 %

Shares of NYSE:NKE opened at $81.42 on Wednesday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a market capitalization of $122.89 billion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a fifty day moving average of $82.83 and a 200-day moving average of $85.14.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share. On average, equities analysts predict that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction 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 owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. UBS Group boosted their price target on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. BMO Capital Markets cut their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. dropped their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $96.56.

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.