Great Valley Advisor Group Inc. Decreases Stake in NIKE, Inc. (NYSE:NKE)

Great Valley Advisor Group Inc. lessened its stake in shares of NIKE, Inc. (NYSE:NKE) by 14.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,044 shares of the footwear maker’s stock after selling 1,658 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in NIKE were worth $1,091,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC grew its holdings in NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares during the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE in the fourth quarter worth about $29,000. Raleigh Capital Management Inc. increased its holdings in NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after purchasing an additional 216 shares during the period. Stephens Consulting LLC increased its holdings in NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 240 shares during the period. Finally, OFI Invest Asset Management bought a new position in NIKE during the 3rd quarter valued at approximately $37,000. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $92.15 on Friday. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $139.09 billion, a P/E ratio of 27.10, a PEG ratio of 1.78 and a beta of 1.07. The company has a 50-day moving average price of $96.00 and a 200-day moving average price of $103.11. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $127.69.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping 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 net margin of 10.14% and a return on equity of 39.41%. Equities research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 annualized dividend and a yield of 1.61%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Telsey Advisory Group cut their price objective on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Jefferies Financial Group reduced their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Stifel Nicolaus dropped their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Williams Trading reaffirmed a “sell” rating and set a $85.00 target price (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Finally, Truist Financial reissued a “hold” rating and issued a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

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.