Elmwood Wealth Management Inc. Sells 185 Shares of NIKE, Inc. (NYSE:NKE)

Elmwood Wealth Management Inc. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,368 shares of the footwear maker’s stock after selling 185 shares during the quarter. Elmwood Wealth Management Inc.’s holdings in NIKE were worth $785,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teachers Insurance & Annuity Association of America bought a new position in NIKE during the 3rd quarter worth approximately $30,000. VitalStone Financial LLC boosted its stake in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Dunhill Financial LLC boosted its stake in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares during the last quarter. Riverview Trust Co bought a new position in NIKE during the 3rd quarter worth approximately $52,000. Finally, Catalyst Capital Advisors LLC bought a new position in NIKE during the 3rd quarter worth approximately $54,000. Institutional investors own 64.25% of the company’s stock.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NIKE stock traded up $1.26 during trading on Monday, reaching $72.46. The company’s stock had a trading volume of 9,700,944 shares, compared to its average volume of 11,895,345. The business’s 50-day moving average price is $76.29 and its 200-day moving average price is $78.25. The firm has a market cap of $107.18 billion, a PE ratio of 20.76, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $107.43. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.21%. NIKE’s payout ratio is presently 49.38%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, November 7th. Morgan Stanley dropped their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Piper Sandler upgraded shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $72.00 to $90.00 in a report on Friday. Finally, Truist Financial dropped their target price on shares of NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE 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.