Cutler Investment Counsel LLC Has $5.71 Million Position in NIKE, Inc. $NKE

Cutler Investment Counsel LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.9% during the 1st quarter, Holdings Channel.com reports. The fund owned 107,298 shares of the footwear maker’s stock after selling 13,093 shares during the period. Cutler Investment Counsel LLC’s holdings in NIKE were worth $5,711,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Main Street Financial Solutions LLC increased its stake in shares of NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after purchasing an additional 139 shares during the last quarter. Diligent Investors LLC boosted its holdings in NIKE by 4.3% in the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after purchasing an additional 153 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in NIKE by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 163 shares in the last quarter. Lakeshore Capital Group Inc. increased its position in NIKE by 2.9% during the fourth quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after buying an additional 165 shares during the last quarter. Finally, ANB Bank increased its position in NIKE by 0.7% during the fourth quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after buying an additional 165 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

NYSE NKE opened at $43.43 on Tuesday. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The stock has a market capitalization of $64.31 billion, a PE ratio of 20.78, a P/E/G ratio of 2.53 and a beta of 1.12. The stock has a 50-day simple moving average of $43.69 and a 200 day simple moving average of $51.66.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. Research analysts anticipate that NIKE, Inc. will post 1.75 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.41 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. HSBC cut NIKE from a “buy” rating to a “hold” rating and reduced their price target for the stock from $90.00 to $48.00 in a research report on Monday, April 13th. JPMorgan Chase & Co. reduced their target price on NIKE from $52.00 to $47.00 and set a “neutral” rating for the company in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $51.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, June 26th. Telsey Advisory Group set a $47.00 price target on shares of NIKE and gave the company a “market perform” rating in a research report on Wednesday, July 1st. Finally, Citigroup dropped their price target on shares of NIKE from $47.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.80.

Insider Activity

In related news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.10% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).