Enclave Advisors LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

by · The Cerbat Gem

Enclave Advisors LLC trimmed its position in NIKE, Inc. (NYSE:NKE – Free Report) by 3.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,138 shares of the footwear maker’s stock after selling 198 shares during the quarter. Enclave Advisors LLC’s holdings in NIKE were worth $389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Garrison Point Advisors LLC lifted its holdings in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC increased its position in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after buying an additional 128 shares in the last quarter. PSI Advisors LLC raised its stake in NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares during the last quarter. Chapin Davis Inc. boosted its holdings in NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC grew its stake in shares of NIKE by 1.6% during the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 3.4 %

Shares of NKE opened at $73.22 on Wednesday. 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 firm has a market cap of $108.30 billion, a P/E ratio of 22.60, a PEG ratio of 2.25 and a beta of 1.02. The stock’s 50 day moving average is $75.66 and its two-hundred day moving average is $77.92. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43.

NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. Analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % 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 link. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NKE has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Telsey Advisory Group cut shares of NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $80.00 in a report on Friday, December 20th. Robert W. Baird dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Monday, December 23rd. Truist Financial reduced their target price on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company dropped their price target on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $89.96.

Read Our Latest Stock Report on NIKE

NIKE Company Profile

(Free Report)

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.

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