NIKE, Inc. $NKE Stock Position Lowered by Cutler Investment Counsel LLC

Cutler Investment Counsel LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 10.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,298 shares of the footwear maker’s stock after selling 13,093 shares during the quarter. Cutler Investment Counsel LLC’s holdings in NIKE were worth $5,711,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Scarborough Advisors LLC acquired a new position in NIKE in the first quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new stake in shares of NIKE during the 4th quarter worth $26,000. Sankala Group LLC acquired a new position in shares of NIKE in the 4th quarter worth $26,000. Meeder Asset Management Inc. raised its position in shares of NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 285 shares during the period. Finally, J.Safra Asset Management Corp acquired a new stake in shares of NIKE during the fourth quarter worth $29,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 0.8%

NYSE:NKE opened at $43.43 on Tuesday. The business’s fifty day moving average price is $43.69 and its 200 day moving average price is $51.66. The firm has a market capitalization of $64.31 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 2.53 and a beta of 1.12. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 1-year low of $40.00 and a 1-year high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same period last year, the company posted $0.14 EPS. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, sell-side analysts forecast that NIKE, Inc. will post 1.75 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, June 1st. NIKE’s dividend payout ratio is currently 78.47%.

Insider Transactions at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This trade represents a 24.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on NKE. BNP Paribas Exane reiterated an “underperform” rating and issued a $23.00 price target on shares of NIKE in a research report on Wednesday, July 1st. DZ Bank reaffirmed a “buy” rating on shares of NIKE in a research note on Tuesday, April 21st. Stifel Nicolaus set a $45.00 target price on shares of NIKE and gave the stock a “hold” rating in a report on Wednesday, July 1st. HSBC cut shares of NIKE from a “buy” rating to a “hold” rating and decreased their target price for the stock from $90.00 to $48.00 in a report on Monday, April 13th. Finally, Argus upgraded shares of NIKE to a “strong-buy” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $54.80.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).