NIKE, Inc. (NYSE:NKE) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,626 shares of the footwear maker’s stock after selling 269 shares during the period. Ironwood Investment Counsel LLC’s holdings in NIKE were worth $586,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. PDT Partners LLC acquired a new stake in NIKE during the 3rd quarter worth $229,000. Auxier Asset Management grew its holdings in shares of NIKE by 1.2% during the third quarter. Auxier Asset Management now owns 14,001 shares of the footwear maker’s stock worth $1,238,000 after purchasing an additional 160 shares during the last quarter. William Allan Corp increased its position in shares of NIKE by 10.1% during the third quarter. William Allan Corp now owns 42,681 shares of the footwear maker’s stock worth $3,773,000 after purchasing an additional 3,911 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of NIKE by 0.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 509,831 shares of the footwear maker’s stock valued at $45,074,000 after purchasing an additional 4,131 shares during the last quarter. Finally, Carl P. Sherr & Co. LLC boosted its position in shares of NIKE by 101.8% in the 3rd quarter. Carl P. Sherr & Co. LLC now owns 20,112 shares of the footwear maker’s stock valued at $1,778,000 after purchasing an additional 10,147 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on NKE. Barclays cut their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. UBS Group upped their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Robert W. Baird raised their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Trading Up 0.5 %

Shares of NKE opened at $78.77 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a 50-day moving average price of $80.18 and a 200 day moving average price of $82.17. The company has a market capitalization of $118.10 billion, a P/E ratio of 22.57, a P/E/G ratio of 1.90 and a beta of 1.03.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.03%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is presently 45.85%.

About NIKE

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.