Elwood & Goetz Wealth Advisory Group LLC Takes Position in NIKE, Inc. (NYSE:NKE)

Elwood & Goetz Wealth Advisory Group LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,284 shares of the footwear maker’s stock, valued at approximately $202,000.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Advisors Asset Management Inc. grew its stake in shares of 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 in the last quarter. FORA Capital LLC bought a new position in shares of NIKE during the first quarter worth about $3,412,000. Lafayette Investments Inc. increased its stake in shares of NIKE by 90.7% in the third 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 period. Cetera Advisors LLC boosted its position in 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 acquiring an additional 40,704 shares during the period. Finally, Koshinski Asset Management Inc. bought a new position in NIKE in the 1st quarter valued at about $713,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several recent research reports. Evercore ISI lowered their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. TD Cowen boosted their target price on NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Piper Sandler reissued a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Royal Bank of Canada decreased their price objective on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a report on Wednesday, October 2nd. Finally, Citigroup reduced their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Performance

Shares of NYSE NKE opened at $78.85 on Friday. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The stock has a 50 day moving average of $82.71 and a 200-day moving average of $84.98. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $118.22 billion, a P/E ratio of 22.59, a P/E/G ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.78 EPS for the current year.

NIKE Announces Dividend

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

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.