NIKE, Inc. (NYSE:NKE) Shares Bought by Valley National Advisers Inc.

Valley National Advisers Inc. lifted its holdings in NIKE, Inc. (NYSE:NKE) by 32.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,273 shares of the footwear maker’s stock after buying an additional 555 shares during the period. Valley National Advisers Inc.’s holdings in NIKE were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Albion Financial Group UT boosted its position in NIKE by 3.0% during the first quarter. Albion Financial Group UT now owns 5,223 shares of the footwear maker’s stock worth $491,000 after acquiring an additional 150 shares during the last quarter. Evolution Wealth Advisors LLC acquired a new position in NIKE during the first quarter worth about $304,000. Iyo Bank Ltd. boosted its position in NIKE by 42.3% during the first quarter. Iyo Bank Ltd. now owns 43,370 shares of the footwear maker’s stock worth $4,076,000 after acquiring an additional 12,890 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its position in NIKE by 1.7% during the first quarter. Azzad Asset Management Inc. ADV now owns 20,339 shares of the footwear maker’s stock worth $1,911,000 after acquiring an additional 347 shares during the last quarter. Finally, Sloy Dahl & Holst LLC boosted its position in NIKE by 4.2% during the first quarter. Sloy Dahl & Holst LLC now owns 4,984 shares of the footwear maker’s stock worth $468,000 after acquiring an additional 200 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 1.0 %

NYSE NKE traded down $0.77 on Wednesday, hitting $75.27. 15,952,008 shares of the stock were exchanged, compared to its average volume of 10,740,556. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a fifty-two week low of $74.29 and a fifty-two week high of $123.39. The company has a market cap of $113.61 billion, a PE ratio of 20.18, a PEG ratio of 1.43 and a beta of 1.01. The company has a 50-day moving average price of $92.58 and a 200-day moving average price of $98.22.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.66 EPS. Sell-side analysts anticipate that NIKE, Inc. will post 3.47 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.97%. NIKE’s payout ratio is 39.68%.

Insider Activity at NIKE

In other NIKE news, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total transaction of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares of the company’s stock, valued at approximately $4,236,917.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Johanna Nielsen sold 282 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares in the company, valued at $68,357.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,660 shares of company stock valued at $19,946,333. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent research reports. UBS Group restated a “neutral” rating and set a $78.00 price target on shares of NIKE in a research report on Friday, June 28th. Raymond James reaffirmed a “market perform” rating on shares of NIKE in a research note on Friday, June 28th. Truist Financial reduced their target price on shares of NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Piper Sandler reduced their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Finally, Citigroup reduced their target price on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.19.

NIKE Company 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.