NIKE, Inc. $NKE Holdings Reduced by Valley National Advisers Inc.

Valley National Advisers Inc. cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,986 shares of the footwear maker’s stock after selling 230 shares during the period. Valley National Advisers Inc.’s holdings in NIKE were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Goldman Sachs Group Inc. grew its position in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% in the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares in the last quarter. Jennison Associates LLC bought a new position in shares of NIKE in the first quarter valued at approximately $509,051,000. Nuveen LLC acquired a new position in shares of NIKE during the first quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. lifted its position in NIKE by 4.6% in the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 3.4%

NIKE stock opened at $72.01 on Monday. NIKE, Inc. has a one year low of $52.28 and a one year high of $84.76. The company’s fifty day moving average price is $74.62 and its two-hundred day moving average price is $67.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company has a market capitalization of $106.34 billion, a price-to-earnings ratio of 36.93, a PEG ratio of 2.64 and a beta of 1.29.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter in the prior year, the company posted $0.70 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is presently 82.05%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NKE shares. Piper Sandler set a $84.00 price target on NIKE and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank Of Canada upgraded shares of NIKE from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $76.00 to $90.00 in a research report on Thursday, September 18th. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Finally, UBS Group set a $71.00 price target on NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.57.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.80% of the company’s stock.

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.