Wealth Enhancement Advisory Services LLC Has $15.59 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Wealth Enhancement Advisory Services LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 206,023 shares of the footwear maker’s stock after buying an additional 1,120 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in NIKE were worth $15,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC raised its position in shares of NIKE by 6.1% during the fourth quarter. Fortitude Family Office LLC now owns 2,988 shares of the footwear maker’s stock worth $226,000 after purchasing an additional 171 shares during the period. Watts Gwilliam & Co. LLC acquired a new stake in NIKE during the 4th quarter worth approximately $326,000. International Assets Investment Management LLC bought a new position in NIKE in the fourth quarter valued at approximately $512,000. Range Financial Group LLC bought a new stake in shares of NIKE during the fourth quarter worth $642,000. Finally, Advance Capital Management Inc. acquired a new stake in shares of NIKE during the fourth quarter worth $214,000. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NKE shares. JPMorgan Chase & Co. lowered their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Bank of America cut their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company decreased their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

NKE opened at $71.31 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a market capitalization of $105.48 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The business has a fifty day simple moving average of $76.29 and a 200 day simple moving average of $78.36. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.43.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company posted $1.03 earnings per share. NIKE’s revenue was down 7.7% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is presently 49.38%.

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.