Elevation Point Wealth Partners LLC Purchases 13,482 Shares of NIKE, Inc. (NYSE:NKE)

Elevation Point Wealth Partners LLC increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 44.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,609 shares of the footwear maker's stock after buying an additional 13,482 shares during the period. Elevation Point Wealth Partners LLC's holdings in NIKE were worth $2,768,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Brighton Jones LLC increased its position in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after buying an additional 160,980 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in NIKE by 26.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 410,249 shares of the footwear maker's stock worth $30,262,000 after purchasing an additional 86,256 shares during the last quarter. Ingalls & Snyder LLC boosted its position in NIKE by 107.6% during the fourth quarter. Ingalls & Snyder LLC now owns 8,623 shares of the footwear maker's stock worth $653,000 after purchasing an additional 4,469 shares during the period. Avestar Capital LLC grew its holdings in NIKE by 23.4% during the fourth quarter. Avestar Capital LLC now owns 8,337 shares of the footwear maker's stock valued at $634,000 after purchasing an additional 1,583 shares during the last quarter. Finally, Life Planning Partners Inc bought a new position in shares of NIKE in the fourth quarter valued at approximately $11,183,000. Institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on NKE. Telsey Advisory Group decreased their price objective on shares of NIKE from $80.00 to $70.00 and set a "market perform" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company lifted their price objective on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Berenberg Bank started coverage on NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 price objective for the company. Barclays decreased their target price on NIKE from $70.00 to $60.00 and set an "equal weight" rating for the company in a research note on Monday, May 12th. Finally, Williams Trading cut their price target on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $80.26.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the purchase, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Price Performance

NIKE stock traded down $2.36 during trading hours on Friday, hitting $60.44. 16,491,618 shares of the stock were exchanged, compared to its average volume of 15,169,340. The stock has a market capitalization of $89.40 billion, a P/E ratio of 18.65, a P/E/G ratio of 2.52 and a beta of 1.21. The business's 50-day moving average is $59.38 and its two-hundred day moving average is $68.73. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the company earned $0.98 EPS. NIKE's revenue for the quarter was down 9.1% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. NIKE's dividend payout ratio (DPR) is presently 53.16%.

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.