Valley Brook Capital Group Inc. Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Valley Brook Capital Group Inc. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,601 shares of the footwear maker’s stock after selling 473 shares during the quarter. NIKE makes up about 1.4% of Valley Brook Capital Group Inc.’s holdings, making the stock its 16th largest position. Valley Brook Capital Group Inc.’s holdings in NIKE were worth $1,694,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Concord Wealth Partners increased its holdings in shares of NIKE by 900.0% in the 3rd quarter. Concord Wealth Partners now owns 1,690 shares of the footwear maker’s stock valued at $162,000 after acquiring an additional 1,521 shares during the period. Vision Capital Management Inc. raised its holdings in shares of NIKE by 1.6% in the third quarter. Vision Capital Management Inc. now owns 83,241 shares of the footwear maker’s stock valued at $7,960,000 after buying an additional 1,322 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of NIKE by 15.0% during the third quarter. Verdence Capital Advisors LLC now owns 4,028 shares of the footwear maker’s stock worth $385,000 after buying an additional 525 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of NIKE by 3.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 524,548 shares of the footwear maker’s stock worth $50,157,000 after buying an additional 17,322 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new position in NIKE in the 3rd quarter valued at about $130,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the subject of a number of recent research reports. Citigroup decreased their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Robert W. Baird dropped their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Oppenheimer cut shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a research note on Friday, February 16th. The Goldman Sachs Group dropped their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, TheStreet downgraded shares of NIKE from a “b” rating to a “c+” rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

Shares of NIKE stock traded down $0.26 during trading on Friday, hitting $92.15. 5,736,711 shares of the company were exchanged, compared to its average volume of 8,740,078. The firm has a 50 day moving average price of $95.73 and a 200 day moving average price of $103.04. The stock has a market capitalization of $139.09 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 1.78 and a beta of 1.07. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $127.69.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Monday, June 3rd. NIKE’s dividend payout ratio is presently 43.53%.

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.