Evolution Wealth Advisors LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

Evolution Wealth Advisors LLC grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 57.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,132 shares of the footwear maker’s stock after acquiring an additional 1,500 shares during the period. Evolution Wealth Advisors LLC’s holdings in NIKE were worth $313,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent research reports. Evercore ISI dropped their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. JPMorgan Chase & Co. reduced their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Stifel Nicolaus reduced their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Finally, Morgan Stanley cut their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Price Performance

Shares of NYSE:NKE opened at $74.07 on Thursday. The firm has a 50 day moving average of $75.59 and a 200-day moving average of $77.91. The stock has a market capitalization of $109.56 billion, a PE ratio of 22.86, a PEG ratio of 2.33 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43.

NIKE (NYSE:NKE) last posted 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 net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the firm posted $1.03 EPS. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was purchased at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.

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.