Carnegie Investment Counsel Has $4.88 Million Position in NIKE, Inc. (NYSE:NKE)

Carnegie Investment Counsel lowered its stake in NIKE, Inc. (NYSE:NKE) by 50.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,442 shares of the footwear maker’s stock after selling 65,821 shares during the period. Carnegie Investment Counsel’s holdings in NIKE were worth $4,876,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Brighton Jones LLC increased its holdings in shares of NIKE by 10.0% in the second quarter. Brighton Jones LLC now owns 223,044 shares of the footwear maker’s stock valued at $16,811,000 after purchasing an additional 20,353 shares in the last quarter. GM Advisory Group LLC raised its position in shares of NIKE by 3.2% during the 2nd quarter. GM Advisory Group LLC now owns 8,638 shares of the footwear maker’s stock valued at $651,000 after acquiring an additional 267 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of NIKE by 28.0% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 97,112 shares of the footwear maker’s stock valued at $7,319,000 after acquiring an additional 21,259 shares during the last quarter. AR Asset Management Inc. raised its position in shares of NIKE by 0.5% during the 2nd quarter. AR Asset Management Inc. now owns 78,770 shares of the footwear maker’s stock valued at $5,937,000 after acquiring an additional 400 shares during the last quarter. Finally, Bridges Investment Management Inc. raised its position in shares of NIKE by 283.8% during the 2nd quarter. Bridges Investment Management Inc. now owns 137,859 shares of the footwear maker’s stock valued at $10,390,000 after acquiring an additional 101,937 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on NKE. Guggenheim dropped their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Bank of America decreased their price target on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Down 0.3 %

Shares of NKE stock opened at $70.89 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm’s 50-day moving average is $75.87 and its 200-day moving average is $77.96. The stock has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a 52-week low of $70.32 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating 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 net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.03 EPS. Sell-side analysts predict that NIKE, Inc. will post 2.1 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.40 dividend. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.26%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is currently 49.38%.

NIKE Company 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.