NIKE, Inc. (NYSE:NKE) Shares Sold by Elevation Wealth Partners LLC

Elevation Wealth Partners LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 18.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 732 shares of the footwear maker’s stock after selling 171 shares during the quarter. Elevation Wealth Partners LLC’s holdings in NIKE were worth $55,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp lifted its position in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares in the last quarter. Wellington Management Group LLP raised its stake in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares in the last quarter. Fisher Asset Management LLC boosted its stake in NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after purchasing an additional 583,207 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after buying an additional 117,187 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NIKE stock opened at $68.69 on Monday. The stock has a market capitalization of $101.60 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The business has a 50 day simple moving average of $75.12 and a 200-day simple moving average of $78.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the business earned $1.03 earnings per share. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.33%. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NKE shares. Telsey Advisory Group restated a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Thursday. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $102.00 to $72.00 in a report on Friday. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a report on Monday, December 16th. Royal Bank of Canada lowered their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Finally, DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $88.62.

Insider Activity

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.10% of the company’s stock.

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.