Marble Harbor Investment Counsel LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Marble Harbor Investment Counsel LLC increased its stake in NIKE, Inc. by 57.1%, now owning 28,285 shares valued at approximately $1.8 million.
• Several hedge funds have also significantly increased their holdings in NIKE, with Brighton Jones LLC raising its stake by 388.5% in the fourth quarter.
• NIKE recently reported a net revenue of $11.10 billion, exceeding analysts' expectations, despite an 11.9% year-over-year decline.

Marble Harbor Investment Counsel LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 57.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,285 shares of the footwear maker's stock after buying an additional 10,275 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.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Brighton Jones LLC grew its holdings in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after buying an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after buying an additional 17,888 shares during the last quarter. World Investment Advisors grew its holdings in shares of NIKE by 25.9% during the fourth quarter. World Investment Advisors now owns 49,125 shares of the footwear maker's stock worth $3,717,000 after buying an additional 10,107 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in NIKE by 20.1% in the 4th quarter. Thoroughbred Financial Services LLC now owns 3,372 shares of the footwear maker's stock valued at $255,000 after purchasing an additional 564 shares in the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in NIKE in the 4th quarter valued at approximately $1,903,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Trading Down 0.1%

NKE stock opened at $74.61 on Friday. The company has a market cap of $110.19 billion, a price-to-earnings ratio of 34.54, a PEG ratio of 2.71 and a beta of 1.27. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $68.36 and a 200-day simple moving average of $67.51. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the firm posted $0.99 EPS. The business's revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NKE. Jefferies Financial Group reaffirmed a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Morgan Stanley lifted their price objective on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Friday, June 27th. Piper Sandler lifted their price objective on NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, June 27th. Bank of America lifted their price objective on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a report on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company's stock.

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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