Johnson Investment Counsel Inc. Sells 7,026 Shares of NIKE, Inc. (NYSE:NKE)

Johnson Investment Counsel Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 6.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 107,786 shares of the footwear maker’s stock after selling 7,026 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in NIKE were worth $6,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Elgethun Capital Management boosted its stake in shares of NIKE by 13.7% in the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker’s stock valued at $94,000 after purchasing an additional 149 shares in the last quarter. AlTi Global Inc. lifted its stake in NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker’s stock valued at $2,813,000 after purchasing an additional 150 shares during the last quarter. Waterfront Wealth Inc. boosted its position in NIKE by 1.4% in the fourth quarter. Waterfront Wealth Inc. now owns 10,757 shares of the footwear maker’s stock valued at $814,000 after buying an additional 153 shares in the last quarter. Staley Capital Advisers Inc. grew its stake in shares of NIKE by 4.4% during the fourth quarter. Staley Capital Advisers Inc. now owns 3,773 shares of the footwear maker’s stock worth $286,000 after buying an additional 160 shares during the last quarter. Finally, Cohen & Steers Inc. increased its holdings in shares of NIKE by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 3,171 shares of the footwear maker’s stock worth $240,000 after buying an additional 160 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Truist Financial cut their price objective on NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Needham & Company LLC cut their price target on NIKE from $75.00 to $66.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America reduced their price target on NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Citigroup dropped their price objective on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Finally, Morgan Stanley reduced their target price on shares of NIKE from $70.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.15.

NIKE Trading Down 0.9%

Shares of NKE stock opened at $59.47 on Friday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The stock has a 50 day simple moving average of $59.67 and a two-hundred day simple moving average of $68.23. The company has a market cap of $87.96 billion, a P/E ratio of 19.76, a PEG ratio of 2.10 and a beta of 1.21.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the firm posted $0.98 EPS. The company’s quarterly revenue was down 9.1% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

About NIKE

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.