Ellevest Inc. Acquires New Position in NIKE, Inc. (NYSE:NKE)

Ellevest Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 2,894 shares of the footwear maker’s stock, valued at approximately $219,000.

Other large investors have also modified their holdings of the company. Ensign Peak Advisors Inc lifted its holdings in NIKE by 18.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,808,527 shares of the footwear maker’s stock valued at $136,851,000 after acquiring an additional 284,706 shares during the period. Ethic Inc. lifted its stake in shares of NIKE by 25.8% in the fourth quarter. Ethic Inc. now owns 107,640 shares of the footwear maker’s stock valued at $8,145,000 after purchasing an additional 22,096 shares during the period. FORA Capital LLC acquired a new stake in shares of NIKE in the fourth quarter valued at about $4,053,000. Fullcircle Wealth LLC grew its position in NIKE by 24.5% during the fourth quarter. Fullcircle Wealth LLC now owns 10,996 shares of the footwear maker’s stock worth $805,000 after buying an additional 2,163 shares during the period. Finally, Cladis Investment Advisory LLC grew its position in NIKE by 25.4% during the fourth quarter. Cladis Investment Advisory LLC now owns 11,192 shares of the footwear maker’s stock worth $847,000 after buying an additional 2,265 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $58.35 on Friday. 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 $86.31 billion, a PE ratio of 18.01, a P/E/G ratio of 2.52 and a beta of 1.23. The company’s fifty day simple moving average is $62.52 and its 200-day simple moving average is $71.25. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the company posted $0.98 earnings per share. The firm’s revenue was down 9.1% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.74%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is 53.16%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Cfra Research raised NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. BMO Capital Markets cut their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $64.00 to $56.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Finally, Morgan Stanley cut their target price on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Seventeen equities research 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.48.

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the company’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Company 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.