NIKE, Inc. $NKE Shares Sold by Valmark Advisers Inc.

Valmark Advisers Inc. lowered its stake in NIKE, Inc. (NYSE:NKE) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,868 shares of the footwear maker’s stock after selling 215 shares during the period. Valmark Advisers Inc.’s holdings in NIKE were worth $1,767,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NKE. Brighton Jones LLC increased its holdings in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Park Avenue Securities LLC grew its holdings in NIKE by 12.1% during the first quarter. Park Avenue Securities LLC now owns 16,705 shares of the footwear maker’s stock worth $1,060,000 after acquiring an additional 1,806 shares during the period. Farther Finance Advisors LLC grew its holdings in NIKE by 4.6% during the first quarter. Farther Finance Advisors LLC now owns 42,014 shares of the footwear maker’s stock worth $2,721,000 after acquiring an additional 1,854 shares during the period. Harbor Capital Advisors Inc. grew its holdings in NIKE by 32.1% during the first quarter. Harbor Capital Advisors Inc. now owns 21,766 shares of the footwear maker’s stock worth $1,382,000 after acquiring an additional 5,291 shares during the period. Finally, GAMMA Investing LLC grew its holdings in NIKE by 39.1% during the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock worth $1,325,000 after acquiring an additional 5,863 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NKE shares. The Goldman Sachs Group set a $85.00 price objective on NIKE and gave the stock a “buy” rating in a report on Thursday, September 25th. Evercore ISI decreased their target price on NIKE from $97.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Morgan Stanley set a $72.00 target price on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Finally, Barclays set a $70.00 target price on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $81.57.

NIKE Stock Performance

NYSE NKE opened at $69.10 on Thursday. The business’s 50-day moving average price is $74.12 and its 200 day moving average price is $67.29. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The company has a market capitalization of $102.05 billion, a PE ratio of 35.44, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share 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 firm had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE’s dividend payout ratio is 82.05%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,378 shares of company stock worth $14,794,264 over the last quarter. 0.80% of the stock is currently owned by company insiders.

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.