Wealth Enhancement Advisory Services LLC Has $12.28 Million Stake in NIKE, Inc. (NYSE:NKE)

Wealth Enhancement Advisory Services LLC cut its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 20.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,261 shares of the footwear maker's stock after selling 42,642 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in NIKE were worth $12,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. JNBA Financial Advisors lifted its stake in shares of NIKE by 1.3% in the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after purchasing an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock worth $1,547,000 after acquiring an additional 136 shares in the last quarter. Elgethun Capital Management increased its holdings in shares of NIKE by 13.7% during the 4th quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after acquiring an additional 149 shares during the last quarter. Game Plan Financial Advisors LLC raised its stake in shares of NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after acquiring an additional 150 shares in the last quarter. Finally, AlTi Global Inc. lifted its holdings in NIKE by 0.4% in the 4th quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock worth $2,813,000 after purchasing an additional 150 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

NYSE NKE traded up $0.99 during trading hours on Monday, reaching $61.58. 14,051,958 shares of the company's stock were exchanged, compared to its average volume of 15,036,898. The firm has a fifty day moving average of $59.08 and a 200-day moving average of $69.58. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The stock has a market cap of $91.08 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's quarterly revenue was down 9.1% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Analyst Ratings Changes

Several brokerages have commented on NKE. Williams Trading lowered their price target on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Stifel Nicolaus dropped their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Barclays cut their target price on shares of NIKE from $70.00 to $60.00 and set an "equal weight" rating for the company in a research report on Monday, May 12th. 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. Finally, Truist Financial cut their price objective on NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $80.26.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the company's stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.

NIKE 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.