Cutler Investment Counsel LLC Sells 7,200 Shares of NIKE, Inc. (NYSE:NKE)

Cutler Investment Counsel LLC reduced its holdings in NIKE, Inc. (NYSE:NKE) by 7.0% in the 4th quarter, Holdings Channel reports. The fund owned 95,739 shares of the footwear maker’s stock after selling 7,200 shares during the quarter. Cutler Investment Counsel LLC’s holdings in NIKE were worth $7,284,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NKE. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the 3rd quarter worth approximately $30,000. Caitlin John LLC boosted its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the period. Heck Capital Advisors LLC bought a new stake in shares of NIKE during the fourth quarter worth $28,000. Roxbury Financial LLC acquired a new stake in shares of NIKE during the fourth quarter worth $30,000. Finally, Dunhill Financial LLC lifted its position in NIKE by 52.2% in the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock valued at $44,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NKE shares. Barclays dropped their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. UBS Group reiterated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Finally, Truist Financial reduced their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.62.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE NKE opened at $73.02 on Monday. The firm has a market cap of $108.00 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The business’s 50 day moving average is $74.46 and its 200-day moving average is $78.03. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.34.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 EPS. Equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is currently 49.38%.

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.