NIKE, Inc. (NYSE:NKE) Shares Acquired by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 6.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,722 shares of the footwear maker’s stock after acquiring an additional 167 shares during the quarter. Elevated Capital Advisors LLC’s holdings in NIKE were worth $206,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Prosperity Consulting Group LLC boosted its holdings in NIKE by 12.9% in the 2nd quarter. Prosperity Consulting Group LLC now owns 3,309 shares of the footwear maker’s stock worth $249,000 after buying an additional 379 shares during the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of NIKE by 5.1% in the second quarter. J.W. Cole Advisors Inc. now owns 11,171 shares of the footwear maker’s stock valued at $842,000 after acquiring an additional 543 shares in the last quarter. Quilter Plc boosted its stake in shares of NIKE by 10.0% in the second quarter. Quilter Plc now owns 389,224 shares of the footwear maker’s stock worth $29,336,000 after acquiring an additional 35,277 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new stake in shares of NIKE during the second quarter worth approximately $102,000. Finally, Marble Harbor Investment Counsel LLC raised its stake in NIKE by 2.0% in the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 8,835 shares of the footwear maker’s stock valued at $666,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NKE. TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Morgan Stanley cut their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Barclays decreased their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Finally, Truist Financial reduced their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.96.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price 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 $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $72.16 on Tuesday. The company has a market cap of $106.73 billion, a P/E ratio of 20.68, a PEG ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average price is $76.19 and its 200 day moving average price is $78.09.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share 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 39.84% and a net margin of 10.60%. The company’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 earnings per share. On average, research analysts forecast that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.40 per share. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. NIKE’s payout ratio is currently 49.38%.

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.