Marble Harbor Investment Counsel LLC Reduces Stake in NIKE, Inc. $NKE

Marble Harbor Investment Counsel LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,280 shares of the footwear maker’s stock after selling 3,005 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in NIKE were worth $1,796,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP increased its position in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Flossbach Von Storch SE boosted its position in shares of NIKE by 9.5% in the 2nd quarter. Flossbach Von Storch SE now owns 11,265,390 shares of the footwear maker’s stock valued at $800,293,000 after purchasing an additional 978,771 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of NIKE by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker’s stock valued at $603,445,000 after purchasing an additional 301,497 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, Director Jorgen Vig Knudstorp acquired 16,150 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the purchase, the director owned 21,388 shares in the company, valued at approximately $1,327,980.92. The trade was a 308.32% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.80% of the company’s stock.

NIKE Stock Up 3.8%

Shares of NYSE NKE opened at $63.10 on Wednesday. The stock has a market capitalization of $93.27 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $69.09 and a 200 day moving average price of $68.66. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. BTIG Research assumed coverage on shares of NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 price target for the company. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Piper Sandler set a $84.00 price objective on shares of NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $75.00 price target on shares of NIKE in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

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.