Elevation Wealth Partners LLC Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Elevation Wealth Partners LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 and hedge funds have also recently modified their holdings of the company. Teachers Insurance & Annuity Association of America bought a new stake in NIKE during the 3rd quarter valued at $30,000. Caitlin John LLC raised its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the fourth quarter valued at about $28,000. VitalStone Financial LLC grew its holdings in 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. Finally, Dunhill Financial LLC grew its holdings in 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. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NKE shares. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Evercore ISI lowered their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. BMO Capital Markets lifted their price target on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Stifel Nicolaus decreased their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Finally, Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and cut their target price for the company from $102.00 to $72.00 in a research note on Friday. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

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, with a total value of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $68.69 on Monday. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $107.43. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market cap 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 company’s 50 day moving average is $75.12 and its 200 day moving average is $78.04.

NIKE (NYSE:NKE) last released 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 firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Increases Dividend

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