Wealth Enhancement Advisory Services LLC Sells 45,413 Shares of NIKE, Inc. (NYSE:NKE)

Wealth Enhancement Advisory Services LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 18.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,903 shares of the footwear maker’s stock after selling 45,413 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in NIKE were worth $18,113,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the period. Lafayette Investments Inc. lifted its holdings in NIKE by 90.7% during the 3rd quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock valued at $4,075,000 after purchasing an additional 21,922 shares during the last quarter. FORA Capital LLC acquired a new stake in shares of NIKE during the 1st quarter worth about $3,412,000. Cetera Advisors LLC boosted its holdings in shares of NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after buying an additional 40,704 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new position in NIKE in the 1st quarter valued at about $713,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 0.1 %

Shares of NKE stock opened at $78.91 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $118.31 billion, a P/E ratio of 22.61, a P/E/G ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock’s fifty day simple moving average is $82.62 and its 200 day simple moving average is $84.82.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue was down 10.4% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.76 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.88%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Analysts Set New Price Targets

NKE has been the subject of several research reports. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Bank of America dropped their price target on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Telsey Advisory Group decreased their price objective on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.56.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by insiders.

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.