Ellsworth Advisors LLC Buys 10,567 Shares of NIKE, Inc. (NYSE:NKE)

Ellsworth Advisors LLC raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 55.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 29,729 shares of the footwear maker's stock after buying an additional 10,567 shares during the quarter. Ellsworth Advisors LLC's holdings in NIKE were worth $2,250,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC raised its holdings in shares of NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock valued at $2,204,451,000 after buying an additional 251,411 shares during the last quarter. Legal & General Group Plc boosted its stake in NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock valued at $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC increased its position in shares of NIKE by 6.0% during the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock valued at $910,801,000 after purchasing an additional 583,207 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the topic of several research reports. Stifel Nicolaus dropped their price target on shares of NIKE from $79.00 to $75.00 and set a "hold" rating on the stock in a research report on Friday, December 20th. TD Cowen cut their target price on shares of NIKE from $78.00 to $73.00 and set a "hold" rating for the company in a research note on Monday, November 18th. Piper Sandler upgraded shares of NIKE from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. Wells Fargo & Company cut their price objective on NIKE from $95.00 to $92.00 and set an "overweight" rating for the company in a research report on Monday, December 16th. Finally, Barclays decreased their target price on NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, December 20th. Fourteen equities research 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 company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $89.96.

Insider Activity

In other NIKE news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company's stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company insiders.

NIKE Stock Performance

Shares of NKE stock traded down $0.22 during trading on Monday, reaching $70.89. The company had a trading volume of 9,688,434 shares, compared to its average volume of 11,668,856. The firm's 50 day simple moving average is $75.77 and its two-hundred day simple moving average is $77.95. NIKE, Inc. has a one year low of $70.32 and a one year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market capitalization of $104.85 billion, a PE ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last released 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 company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company's quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. This is a boost from NIKE's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE's dividend payout ratio is 49.38%.

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.