Enclave Advisors LLC Cuts Stock Holdings in NIKE, Inc. (NYSE:NKE)

Enclave Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,138 shares of the footwear maker’s stock after selling 198 shares during the period. Enclave Advisors LLC’s holdings in NIKE were worth $389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Garrison Point Advisors LLC grew its holdings in NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after purchasing an additional 126 shares during the period. Stephens Consulting LLC grew its stake in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares during the period. PSI Advisors LLC increased its holdings in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after acquiring an additional 130 shares in the last quarter. Chapin Davis Inc. increased its holdings in NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC raised its stake in NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after acquiring an additional 133 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Stock Up 3.4 %

NYSE NKE opened at $73.22 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The firm has a market capitalization of $108.30 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.25 and a beta of 1.02. The company has a fifty day moving average of $75.66 and a two-hundred day moving average of $77.92.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the previous year, the company earned $1.03 EPS. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.1 earnings per share 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s dividend payout ratio is presently 49.38%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Jefferies Financial Group increased their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $93.00 to $80.00 in a research report on Friday, December 20th. Stifel Nicolaus cut their target price on NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Finally, Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $89.96.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by corporate 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.