Wealth Enhancement Advisory Services LLC Sells 421,169 Shares of NIKE, Inc. $NKE

Wealth Enhancement Advisory Services LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 56.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,044 shares of the footwear maker’s stock after selling 421,169 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in NIKE were worth $22,192,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mascoma Wealth Management LLC bought a new stake in NIKE during the 2nd quarter worth approximately $26,000. Halbert Hargrove Global Advisors LLC boosted its holdings in NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 362 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in shares of NIKE during the 2nd quarter valued at $31,000. Opal Wealth Advisors LLC bought a new position in shares of NIKE in the second quarter worth $35,000. Finally, NewSquare Capital LLC increased its holdings in shares of NIKE by 54.4% in the second quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after purchasing an additional 258 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a research note on Tuesday, January 6th. Truist Financial set a $69.00 price target on NIKE in a report on Wednesday, January 14th. Argus dropped their price target on NIKE from $85.00 to $70.00 in a research report on Tuesday, December 23rd. Jefferies Financial Group reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft set a $67.00 target price on shares of NIKE in a research note on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $74.65.

Insider Activity at NIKE

In other NIKE news, Director Timothy D. Cook bought 50,000 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The shares were bought at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the acquisition, the director owned 105,480 shares in the company, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the stock in a transaction on Friday, November 7th. The stock was acquired at an average cost of $62.09 per share, with a total value of $1,002,753.50. Following the completion of the purchase, the director directly owned 21,388 shares of the company’s stock, valued at $1,327,980.92. The trade was a 308.32% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 91,229 shares of company stock worth $5,452,640 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $65.41 on Thursday. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $96.83 billion, a PE ratio of 38.48, a price-to-earnings-growth ratio of 3.29 and a beta of 1.28. The business’s 50-day moving average price is $63.91 and its 200-day moving average price is $69.16. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.19 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.NIKE’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a $0.41 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.5%. NIKE’s dividend payout ratio is currently 96.47%.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).