Evolution Wealth Advisors LLC Buys Shares of 3,240 NIKE, Inc. (NYSE:NKE)

Evolution Wealth Advisors LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,240 shares of the footwear maker’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NKE. Annapolis Financial Services LLC raised its holdings in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC grew its position in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new position in shares of NIKE in the fourth quarter valued at $29,000. True Wealth Design LLC lifted its position in shares of NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares during the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the 4th quarter worth $33,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on NKE. The Goldman Sachs Group decreased their target price on shares of NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a report on Friday, June 28th. Raymond James reiterated a “market perform” rating on shares of NIKE in a report on Friday, June 28th. Telsey Advisory Group decreased their price target on shares of NIKE from $115.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Evercore ISI decreased their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, Williams Trading restated a “sell” rating and set a $85.00 price target (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $97.19.

NIKE Trading Down 1.1 %

Shares of NKE stock traded down $0.80 during mid-day trading on Wednesday, reaching $75.24. 15,871,385 shares of the stock traded hands, compared to its average volume of 10,739,921. The stock’s fifty day simple moving average is $92.58 and its two-hundred day simple moving average is $98.22. NIKE, Inc. has a 1-year low of $74.29 and a 1-year high of $123.39. The company has a market cap of $113.56 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.66 earnings per share. On average, research analysts anticipate that NIKE, Inc. will post 3.47 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.97%. NIKE’s payout ratio is currently 39.68%.

Insiders Place Their Bets

In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of NIKE stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total value of $4,237,200.00. Following the completion of the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Monique S. Matheson sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the completion of the sale, the executive vice president now owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Johanna Nielsen sold 282 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total value of $26,406.48. Following the sale, the vice president now owns 730 shares of the company’s stock, valued at approximately $68,357.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 213,660 shares of company stock worth $19,946,333. 0.50% of the stock is owned by corporate insiders.

About NIKE

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.