Schaper Benz & Wise Investment Counsel Inc. WI Has $8.56 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 14.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,902 shares of the footwear maker's stock after acquiring an additional 16,620 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI's holdings in NIKE were worth $8,564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after buying an additional 17,888 shares during the period. Allworth Financial LP lifted its stake in NIKE by 96.8% in the fourth quarter. Allworth Financial LP now owns 24,458 shares of the footwear maker's stock valued at $1,811,000 after buying an additional 12,027 shares during the period. Strategic Financial Concepts LLC acquired a new position in NIKE in the fourth quarter valued at approximately $4,342,000. Finally, Valmark Advisers Inc. lifted its stake in NIKE by 71.5% in the fourth quarter. Valmark Advisers Inc. now owns 25,804 shares of the footwear maker's stock valued at $1,953,000 after buying an additional 10,757 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 2.3%

Shares of NYSE:NKE opened at $61.90 on Tuesday. The company has a market capitalization of $91.55 billion, a PE ratio of 19.10, a price-to-earnings-growth ratio of 2.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business has a fifty day moving average price of $59.56 and a two-hundred day moving average price of $68.48. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. Analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.58%. NIKE's payout ratio is 53.16%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. Robert W. Baird dropped their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Piper Sandler lowered their target price on NIKE from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC lowered their target price on NIKE from $84.00 to $80.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Royal Bank of Canada lowered their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Finally, China Renaissance initiated coverage on NIKE in a research report on Wednesday, March 19th. They set a "hold" rating on the stock. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $80.26.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.

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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