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

Wealth Enhancement Advisory Services LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The fund 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 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P raised its holdings in shares of NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after buying an additional 6,507,856 shares in the last quarter. State Street Corp grew its position in NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Holocene Advisors LP acquired a new position in NIKE during the third quarter worth about $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of NIKE in the 3rd quarter valued at approximately $144,927,000. Finally, Renaissance Technologies LLC grew its holdings in shares of NIKE by 351.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after purchasing an additional 1,550,611 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. UBS Group restated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research report on Thursday, December 26th. Barclays reduced their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Bank of America reduced their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Finally, TD Cowen cut their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.96.

NIKE Stock Performance

Shares of NIKE stock opened at $71.31 on Friday. The business has a 50-day simple moving average of $76.29 and a 200 day simple moving average of $78.36. The firm has a market capitalization of $105.48 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a one year low of $70.75 and a one year high of $107.43.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. On average, research analysts anticipate that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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.