Cutler Investment Counsel LLC Has $11.59 Million Position in NIKE, Inc. (NYSE:NKE)

Cutler Investment Counsel LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,404 shares of the footwear maker’s stock after selling 153 shares during the period. NIKE comprises about 1.7% of Cutler Investment Counsel LLC’s holdings, making the stock its 22nd largest position. Cutler Investment Counsel LLC’s holdings in NIKE were worth $11,591,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Impact Partnership Wealth LLC boosted its position in NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares during the period. Iron Horse Wealth Management LLC lifted its position in NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. acquired a new stake in shares of NIKE in the fourth quarter valued at about $29,000. Financial Freedom LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $29,000. Finally, Worth Asset Management LLC acquired a new position in shares of NIKE during the 1st quarter worth about $32,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on NKE shares. Wells Fargo & Company decreased their price target on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Telsey Advisory Group lowered their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, March 18th. Morgan Stanley reduced their price objective on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. dropped their price target on shares of NIKE from $139.00 to $128.00 and set an “overweight” rating for the company in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Down 0.5 %

NKE traded down $0.52 during trading on Friday, reaching $95.22. 5,763,263 shares of the company’s stock were exchanged, compared to its average volume of 9,539,415. The company’s fifty day moving average price is $98.31 and its 200-day moving average price is $103.37. The firm has a market capitalization of $143.72 billion, a PE ratio of 28.12, a P/E/G ratio of 1.83 and a beta of 1.08. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were paid a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.55%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

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.