31,144 Shares in NIKE, Inc. $NKE Purchased by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, Holdings Channel.com reports. The firm bought 31,144 shares of the footwear maker’s stock, valued at approximately $2,212,000. NIKE accounts for approximately 1.8% of Elevate Capital Advisors LLC’s portfolio, making the stock its 23rd largest holding.

Several other institutional investors have also added to or reduced their stakes in NKE. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP grew its holdings in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Jennison Associates LLC purchased a new position in NIKE during the 1st quarter valued at approximately $509,051,000. Nuveen LLC purchased a new position in NIKE during the 1st quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. grew its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after buying an additional 4,957,494 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NKE. Royal Bank Of Canada upgraded NIKE from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $76.00 to $90.00 in a report on Thursday, September 18th. Weiss Ratings restated a “sell (d+)” rating on shares of NIKE in a report on Saturday, September 27th. Sanford C. Bernstein reiterated a “buy” rating and issued a $90.00 target price on shares of NIKE in a report on Wednesday. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

NIKE Price Performance

Shares of NKE stock opened at $72.01 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $84.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.50 and a current ratio of 2.19. The firm has a market capitalization of $106.34 billion, a P/E ratio of 36.93, a P/E/G ratio of 2.75 and a beta of 1.29. The stock has a 50 day moving average price of $74.62 and a 200 day moving average price of $67.31.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the company earned $0.70 EPS. NIKE’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.80% of the company’s stock.

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.