Leith Wheeler Investment Counsel Ltd. Has $17.14 Million Holdings in NIKE, Inc. $NKE

Leith Wheeler Investment Counsel Ltd. grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 324,568 shares of the footwear maker’s stock after buying an additional 13,072 shares during the period. NIKE makes up 1.4% of Leith Wheeler Investment Counsel Ltd.’s investment portfolio, making the stock its 19th largest holding. Leith Wheeler Investment Counsel Ltd.’s holdings in NIKE were worth $17,144,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP bought a new position in shares of NIKE during the 1st quarter worth about $311,000. United Bank grew its stake in shares of NIKE by 11.3% in the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares during the period. NewEdge Advisors LLC grew its stake in shares of NIKE by 0.3% in the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after buying an additional 197 shares during the period. Finally, CIBC Asset Management Inc increased its position in NIKE by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock valued at $13,588,000 after buying an additional 11,646 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NKE. Bank of America dropped their price target on NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Robert W. Baird restated an “outperform” rating and set a $70.00 price objective on shares of NIKE in a report on Wednesday, July 1st. JPMorgan Chase & Co. lowered their target price on NIKE from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. Truist Financial lowered their target price on NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, BTIG Research reissued a “buy” rating and issued a $55.00 price target on shares of NIKE in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.80.

NIKE Price Performance

NKE stock opened at $43.43 on Tuesday. The company has a market capitalization of $64.31 billion, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 2.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The business has a 50-day simple moving average of $43.69 and a two-hundred day simple moving average of $51.66.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 1.75 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.8%. NIKE’s dividend payout ratio is 78.47%.

Insider Transactions at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Company insiders own 1.10% of the company’s stock.

NIKE 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).