Elevated Capital Advisors LLC Invests $226,000 in NIKE, Inc. (NYSE:NKE)

Elevated Capital Advisors LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,555 shares of the footwear maker’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Longview Partners Guernsey LTD purchased a new stake in shares of NIKE in the 1st quarter valued at about $533,533,000. Capital World Investors lifted its holdings in shares of NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of NIKE by 45.6% in the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after purchasing an additional 2,775,510 shares during the last quarter. PineStone Asset Management Inc. lifted its holdings in shares of NIKE by 138.3% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after purchasing an additional 1,576,049 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of NIKE by 351.7% in 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 owned by hedge funds and other institutional investors.

NIKE Stock Down 1.7 %

Shares of NKE opened at $80.04 on Thursday. The company has a 50-day simple moving average of $82.86 and a 200-day simple moving average of $85.10. The firm has a market capitalization of $120.81 billion, a P/E ratio of 21.46, a P/E/G ratio of 1.96 and a beta of 1.02. 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, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, equities research analysts expect that NIKE, Inc. will post 2.8 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.85%. NIKE’s payout ratio is currently 39.68%.

Analyst Ratings Changes

Several analysts have commented on the company. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and upped their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Jefferies Financial Group upped their price objective on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research note on Monday, September 30th. UBS Group upped their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Finally, Guggenheim reduced their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $96.56.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’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 sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

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.