Rockland Trust Co. Has $14.80 Million Holdings in NIKE, Inc. (NYSE:NKE)

Rockland Trust Co. lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,514 shares of the footwear maker’s stock after selling 7,456 shares during the quarter. Rockland Trust Co.’s holdings in NIKE were worth $14,795,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Loomis Sayles & Co. L P lifted its stake in shares of NIKE by 1,209,638.7% in the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock valued at $575,342,000 after purchasing an additional 6,507,856 shares during the period. State Street Corp increased its stake in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of NIKE during the 3rd quarter valued at $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in NIKE in the third quarter worth $144,927,000. Finally, Wellington Management Group LLP boosted its position in shares of NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock worth $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Wells Fargo & Company reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Finally, Morgan Stanley lowered their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $89.96.

NIKE Price Performance

Shares of NYSE NKE opened at $71.09 on Wednesday. The stock has a fifty day moving average of $76.05 and a 200-day moving average of $78.06. NIKE, Inc. has a fifty-two week low of $70.53 and a fifty-two week high of $107.43. The stock has a market cap of $105.15 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.89 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.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.03 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.10% of the company’s stock.

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.