Marble Harbor Investment Counsel LLC Acquires 175 Shares of NIKE, Inc. (NYSE:NKE)

Marble Harbor Investment Counsel LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 8,835 shares of the footwear maker’s stock after purchasing an additional 175 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in NIKE were worth $666,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in NKE. Cim LLC bought a new position in NIKE during the fourth quarter valued at approximately $14,275,000. TKG Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at $1,012,000. Spartan Planning & Wealth Management bought a new position in shares of NIKE during the 4th quarter valued at $182,000. CreativeOne Wealth LLC boosted its stake in shares of NIKE by 16.1% in the 4th quarter. CreativeOne Wealth LLC now owns 20,542 shares of the footwear maker’s stock worth $2,230,000 after buying an additional 2,846 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its holdings in shares of NIKE by 27.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock worth $12,301,000 after acquiring an additional 24,686 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on NKE shares. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $83.00 target price (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $93.00 in a report on Friday, August 16th. Bank of America reduced their target price on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a report on Friday, June 28th. The Goldman Sachs Group dropped their price target on shares of NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Wells Fargo & Company cut their price objective on shares of NIKE from $115.00 to $92.00 and set an “overweight” rating for the company in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.59.

NIKE Price Performance

NKE stock opened at $79.01 on Monday. The firm has a market capitalization of $118.46 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $77.23 and a two-hundred day simple moving average of $87.64.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. NIKE’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.66 earnings per share. Analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. The disclosure for this sale can be found here. Corporate insiders own 0.50% 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.