Johnson Investment Counsel Inc. Sells 10,579 Shares of NIKE, Inc. $NKE

Johnson Investment Counsel Inc. lessened its stake in NIKE, Inc. (NYSE:NKE) by 12.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,953 shares of the footwear maker’s stock after selling 10,579 shares during the period. Johnson Investment Counsel Inc.’s holdings in NIKE were worth $5,296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NIKE in the 2nd quarter valued at $31,000. Guerra Advisors Inc bought a new position in NIKE during the third quarter worth $34,000. NewSquare Capital LLC lifted its holdings in NIKE by 54.4% in the second quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock valued at $52,000 after buying an additional 258 shares during the period. Field & Main Bank boosted its position in NIKE by 36.4% during the second quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock valued at $53,000 after acquiring an additional 200 shares during the last quarter. Finally, Financial Consulate Inc. bought a new stake in NIKE during the third quarter valued at $57,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Elliott Hill acquired 16,388 shares of NIKE stock in a transaction on Monday, December 29th. The shares were acquired at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the transaction, the chief executive officer owned 241,587 shares in the company, valued at $14,760,965.70. This trade represents a 7.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Holmes Swan acquired 8,691 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were acquired at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the purchase, the director directly owned 43,293 shares of the company’s stock, valued at $2,491,079.22. This represents a 25.12% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 75,079 shares of company stock worth $4,449,887. Corporate insiders own 0.80% of the company’s stock.

NIKE Trading Up 0.9%

Shares of NKE opened at $62.98 on Wednesday. The business has a 50-day moving average of $63.75 and a 200 day moving average of $68.05. The firm has a market cap of $93.23 billion, a P/E ratio of 37.05, a price-to-earnings-growth ratio of 3.19 and a beta of 1.27. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. NIKE’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a $0.41 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.6%. NIKE’s payout ratio is 96.47%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NKE. Weiss Ratings upgraded NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Truist Financial set a $69.00 target price on shares of NIKE in a research report on Wednesday, January 14th. Barclays restated a “neutral” rating on shares of NIKE in a report on Thursday, January 15th. Robert W. Baird decreased their price target on shares of NIKE from $93.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday, December 19th. Finally, Telsey Advisory Group cut their price objective on shares of NIKE from $75.00 to $72.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $74.61.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).