Northwest Investment Counselors LLC Increases Holdings in NIKE, Inc. (NYSE:NKE)

Northwest Investment Counselors LLC grew its holdings in NIKE, Inc. (NYSE:NKE) by 3.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 42,795 shares of the footwear maker’s stock after acquiring an additional 1,455 shares during the quarter. Northwest Investment Counselors LLC’s holdings in NIKE were worth $3,783,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Crew Capital Management Ltd. boosted its stake in NIKE by 29.8% in the third quarter. Crew Capital Management Ltd. now owns 10,699 shares of the footwear maker’s stock valued at $946,000 after acquiring an additional 2,454 shares in the last quarter. Bellecapital International Ltd. purchased a new stake in shares of NIKE in the 3rd quarter valued at about $220,000. Arlington Partners LLC boosted its position in shares of NIKE by 39.5% in the 3rd quarter. Arlington Partners LLC now owns 49,185 shares of the footwear maker’s stock valued at $4,348,000 after purchasing an additional 13,927 shares during the period. Penn Davis Mcfarland Inc. acquired a new position in NIKE during the third quarter worth approximately $5,483,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in NIKE by 187.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 323,993 shares of the footwear maker’s stock valued at $28,641,000 after buying an additional 211,461 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wedbush decreased their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Oppenheimer reissued an “outperform” rating and issued a $120.00 price objective on shares of NIKE in a research note on Friday, June 28th. Finally, BMO Capital Markets reduced their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $96.56.

NIKE Price Performance

Shares of NYSE NKE traded down $1.27 during trading on Monday, reaching $81.65. The company had a trading volume of 3,612,489 shares, compared to its average volume of 11,662,114. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $123.24 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a 50-day moving average price of $82.64 and a two-hundred day moving average price of $85.24.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period last year, the company earned $0.94 EPS. As a group, sell-side analysts predict that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.

NIKE 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.