Elwood & Goetz Wealth Advisory Group LLC Acquires New Stake in NIKE, Inc. (NYSE:NKE)

Elwood & Goetz Wealth Advisory Group LLC purchased a new stake in NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to the company in 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.

Other hedge funds also recently made changes to their positions in the company. Legacy Wealth Asset Management LLC lifted its holdings in NIKE by 4.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 4,418 shares of the footwear maker’s stock valued at $391,000 after buying an additional 191 shares during the period. Pavion Blue Capital LLC bought a new stake in NIKE in the third quarter worth approximately $253,000. Blackston Financial Advisory Group LLC acquired a new position in NIKE in the third quarter valued at approximately $277,000. Garrison Point Advisors LLC boosted its holdings in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC grew its position in shares of NIKE by 558.8% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 58,957 shares of the footwear maker’s stock worth $5,212,000 after buying an additional 50,008 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on NKE. BMO Capital Markets decreased their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Evercore ISI reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Wedbush lowered their price objective on NIKE from $115.00 to $97.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Finally, Royal Bank of Canada decreased their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Stock Down 0.2 %

NYSE:NKE opened at $78.85 on Friday. The firm has a 50-day simple moving average of $82.71 and a two-hundred day simple moving average of $84.98. The firm has a market cap 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, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is 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.