NIKE, Inc. (NYSE:NKE) Shares Sold by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 0.8% in the first quarter, HoldingsChannel reports. The firm owned 47,796 shares of the footwear maker’s stock after selling 390 shares during the quarter. Valeo Financial Advisors LLC’s holdings in NIKE were worth $4,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in NKE. Iron Horse Wealth Management LLC lifted its holdings in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares during the period. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Planned Solutions Inc. acquired a new stake in NIKE in the fourth quarter worth approximately $29,000. True Wealth Design LLC boosted its stake in NIKE by 106.4% during the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Finally, Core Wealth Advisors Inc. increased its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NKE. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $109.00 to $80.00 in a report on Friday, June 28th. The Goldman Sachs Group reduced their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada dropped their price target on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Wedbush reduced their price target on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Finally, Citigroup lowered their price target on 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 given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and a consensus target price of $97.19.

NIKE Price Performance

NKE stock traded down $0.80 during trading on Wednesday, reaching $75.24. 15,883,628 shares of the company were exchanged, compared to its average volume of 10,740,018. The company has a market capitalization of $113.56 billion, a price-to-earnings ratio of 20.13, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The company has a 50-day moving average of $92.58 and a two-hundred day moving average of $98.22. NIKE, Inc. has a twelve month low of $74.29 and a twelve month high of $123.39.

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, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the business earned $0.66 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 3.47 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders 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 annualized dividend and a dividend yield of 1.97%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling

In related news, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold 213,660 shares of company stock worth $19,946,333 in the last quarter. Insiders own 0.50% of the company’s stock.

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.