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

Johnson Investment Counsel Inc. cut its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,786 shares of the footwear maker's stock after selling 7,026 shares during the period. Johnson Investment Counsel Inc.'s holdings in NIKE were worth $6,842,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. State of Alaska Department of Revenue increased its position in NIKE by 2.0% in the 1st quarter. State of Alaska Department of Revenue now owns 138,455 shares of the footwear maker's stock worth $8,789,000 after buying an additional 2,700 shares during the period. CWA Asset Management Group LLC grew its stake in shares of NIKE by 20.0% in the first quarter. CWA Asset Management Group LLC now owns 18,424 shares of the footwear maker's stock worth $1,170,000 after acquiring an additional 3,077 shares during the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of NIKE by 132.9% in the first quarter. Kingswood Wealth Advisors LLC now owns 46,447 shares of the footwear maker's stock worth $2,994,000 after acquiring an additional 26,505 shares during the last quarter. Essex Savings Bank increased its position in NIKE by 22.5% during the first quarter. Essex Savings Bank now owns 13,111 shares of the footwear maker's stock worth $832,000 after acquiring an additional 2,404 shares during the period. Finally, Pegasus Asset Management Inc. raised its stake in NIKE by 4.9% during the 1st quarter. Pegasus Asset Management Inc. now owns 31,227 shares of the footwear maker's stock valued at $1,982,000 after purchasing an additional 1,465 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.10% of the company's stock.

NIKE Trading Down 0.9%

Shares of NKE opened at $59.47 on Friday. 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 company has a market cap of $87.96 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 2.10 and a beta of 1.21. The stock has a fifty day moving average price of $59.67 and a two-hundred day moving average price of $68.23. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Needham & Company LLC dropped their price objective on shares of NIKE from $75.00 to $66.00 and set a "buy" rating on the stock in a report on Wednesday. China Renaissance initiated coverage on NIKE in a research note on Wednesday, March 19th. They set a "hold" rating on the stock. BMO Capital Markets cut their price target on NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Truist Financial decreased 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. Finally, Robert W. Baird cut their target price on NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.15.

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.

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