Clifford Swan Investment Counsel LLC Has $13.62 Million Stake in NIKE, Inc. $NKE

Clifford Swan Investment Counsel LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 3.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 191,753 shares of the footwear maker’s stock after selling 7,223 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in NIKE were worth $13,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in NKE. Spire Wealth Management lifted its position in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after acquiring an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of NIKE during the first quarter worth $25,963,000. BROOKFIELD Corp ON boosted its position in NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Cadence Bank grew its stake in NIKE by 10.0% in the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after purchasing an additional 7,574 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE:NKE opened at $69.03 on Thursday. The company has a market cap of $102.03 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.52 and a beta of 1.29. The business has a 50 day moving average price of $72.67 and a 200 day moving average price of $67.57. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE’s payout ratio is presently 82.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NKE. Needham & Company LLC reiterated a “buy” rating and set a $78.00 price target on shares of NIKE in a report on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on shares of NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. UBS Group set a $71.00 price target on NIKE and gave the stock a “neutral” rating in a research report on Friday, September 19th. Bank of America increased their price objective on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Finally, TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

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.