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

Carnegie Investment Counsel cut its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 50.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 64,442 shares of the footwear maker's stock after selling 65,821 shares during the quarter. Carnegie Investment Counsel's holdings in NIKE were worth $4,876,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter worth $30,000. VitalStone Financial LLC boosted its stake in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Dunhill Financial LLC boosted its stake in shares of NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker's stock worth $44,000 after acquiring an additional 169 shares in the last quarter. Ecofi Investissements SA bought a new stake in shares of NIKE during the 2nd quarter worth $49,000. Finally, Riverview Trust Co bought a new stake in shares of NIKE during the 3rd quarter worth $52,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NIKE stock traded down $0.22 during trading on Friday, reaching $70.89. The company's stock had a trading volume of 9,688,434 shares, compared to its average volume of 11,668,856. 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 business's fifty day moving average price is $75.77 and its 200-day moving average price is $77.92. The firm has a market cap of $104.85 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.03 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. NIKE's payout ratio is presently 49.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NKE shares. DA Davidson raised NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Piper Sandler raised NIKE from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Stifel Nicolaus decreased their target price on NIKE from $79.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, December 20th. Morgan Stanley decreased their target price on NIKE from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their target price on NIKE from $95.00 to $92.00 and set an "overweight" rating for the company in a research report on Monday, December 16th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $89.96.

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.