Ethic Inc. Has $6.53 Million Stock Holdings in NIKE, Inc. $NKE

Ethic Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 9.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,579 shares of the footwear maker’s stock after selling 9,716 shares during the quarter. Ethic Inc.’s holdings in NIKE were worth $6,525,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management increased its position in NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after purchasing an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in NIKE during the 1st quarter worth approximately $25,963,000. BROOKFIELD Corp ON increased its position in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Cadence Bank increased its position in NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $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 Trading Up 1.0%

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

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

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given 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 dividend payout ratio is 82.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NKE shares. KeyCorp set a $90.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Barclays set a $70.00 price target on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. HSBC upgraded shares of NIKE from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Friday, June 27th. Sanford C. Bernstein restated a “buy” rating and issued a $90.00 price target on shares of NIKE in a research report on Monday, October 13th. Finally, Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction 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. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% 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.