Concord Investment Counsel Inc. Makes New $577,000 Investment in NIKE, Inc. (NYSE:NKE)

Concord Investment Counsel Inc. bought a new position in NIKE, Inc. (NYSE:NKE) in the first quarter, Holdings Channel reports. The institutional investor bought 6,140 shares of the footwear maker’s stock, valued at approximately $577,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Diversified Trust Co grew its holdings in shares of NIKE by 7.1% during the 3rd quarter. Diversified Trust Co now owns 14,572 shares of the footwear maker’s stock worth $1,393,000 after purchasing an additional 966 shares during the period. Public Sector Pension Investment Board grew its holdings in shares of NIKE by 11.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 131,226 shares of the footwear maker’s stock worth $12,548,000 after purchasing an additional 13,245 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of NIKE by 509.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 31,666 shares of the footwear maker’s stock worth $3,028,000 after purchasing an additional 26,466 shares during the period. Carmignac Gestion purchased a new position in shares of NIKE during the 3rd quarter worth $3,073,000. Finally, Quantum Financial Advisors LLC grew its holdings in shares of NIKE by 22.5% during the 3rd quarter. Quantum Financial Advisors LLC now owns 4,018 shares of the footwear maker’s stock worth $384,000 after purchasing an additional 738 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 0.2 %

Shares of NYSE NKE traded up $0.15 during midday trading on Friday, hitting $73.54. 8,587,727 shares of the company’s stock were exchanged, compared to its average volume of 11,149,655. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE, Inc. has a twelve month low of $71.67 and a twelve month high of $123.39. The company has a market cap of $111.00 billion, a PE ratio of 19.72, a P/E/G ratio of 1.86 and a beta of 1.01. The firm’s fifty day simple moving average is $89.89 and its 200-day simple moving average is $96.31.

NIKE (NYSE:NKE) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Research analysts predict that NIKE, Inc. will post 3.17 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 annualized dividend and a dividend yield of 2.01%. NIKE’s dividend payout ratio (DPR) is currently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. StockNews.com cut NIKE from a “buy” rating to a “hold” rating in a report on Friday, June 21st. Guggenheim lowered their target price on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 28th. Williams Trading restated a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. TD Cowen lowered their target price on NIKE from $89.00 to $75.00 and set a “hold” rating for the company in a report on Friday, June 28th. Finally, Truist Financial lowered their target price on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $97.19.

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.