Capital Investment Counsel Inc Increases Position in NIKE, Inc. (NYSE:NKE)

Capital Investment Counsel Inc increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 59.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,928 shares of the footwear maker’s stock after buying an additional 12,279 shares during the quarter. Capital Investment Counsel Inc’s holdings in NIKE were worth $2,482,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Annapolis Financial Services LLC increased its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. True Wealth Design LLC lifted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the period. Frank Rimerman Advisors LLC acquired a new position in NIKE during the fourth quarter worth $33,000. Core Wealth Advisors Inc. boosted its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE in the fourth quarter valued at $36,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 0.3 %

Shares of NKE traded up $0.28 during midday trading on Tuesday, reaching $83.56. 7,757,024 shares of the company were exchanged, compared to its average volume of 11,527,894. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a 50-day moving average price of $79.67 and a 200-day moving average price of $90.52. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The company has a market cap of $126.12 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 1.92 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 11.10% and a return on equity of 42.63%. The business’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 earnings per share. Research analysts expect that NIKE, Inc. will post 3.12 earnings per share for the current 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 issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.77%. NIKE’s dividend payout ratio is presently 39.68%.

Analysts Set New Price Targets

NKE has been the topic of several recent research reports. Wedbush decreased their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Jefferies Financial Group lowered their price target on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. TD Cowen reduced their target price on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a research note on Thursday, July 25th. StockNews.com downgraded NIKE from a “buy” rating to a “hold” rating in a research report on Friday, June 21st. Finally, Williams Trading raised NIKE from a “sell” rating to a “buy” rating and increased their price objective for the company from $67.00 to $93.00 in a research note on Friday. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.59.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought 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 $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

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.