Mayflower Financial Advisors LLC Sells 487 Shares of NIKE, Inc. (NYSE:NKE)

Mayflower Financial Advisors LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,091 shares of the footwear maker’s stock after selling 487 shares during the period. Mayflower Financial Advisors LLC’s holdings in NIKE were worth $685,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NKE. Norges Bank bought a new stake in shares of NIKE in the fourth quarter valued at $1,315,097,000. Price T Rowe Associates Inc. MD boosted its position in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Capital International Investors raised its position in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD bought a new position in NIKE in the 1st quarter worth approximately $533,533,000. Finally, Capital World Investors grew its stake in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $80.83 on Friday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market capitalization of $122.00 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 2.19 and a beta of 1.01. The company has a fifty day moving average of $76.83 and a 200-day moving average of $88.94. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the prior year, the company earned $0.66 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.83%. NIKE’s payout ratio is currently 39.68%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NKE. Stifel Nicolaus reduced their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $109.00 to $80.00 in a research report on Friday, June 28th. Bank of America cut their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, June 28th. BMO Capital Markets reduced their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, HSBC decreased their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.59.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the 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 completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

NIKE 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.