Great Valley Advisor Group Inc. Grows Holdings in NIKE, Inc. (NYSE:NKE)

Great Valley Advisor Group Inc. raised its position in NIKE, Inc. (NYSE:NKE) by 4.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,409 shares of the footwear maker’s stock after buying an additional 532 shares during the period. Great Valley Advisor Group Inc.’s holdings in NIKE were worth $1,009,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Leelyn Smith LLC increased its position in shares of NIKE by 12.0% during the third quarter. Leelyn Smith LLC now owns 38,192 shares of the footwear maker’s stock valued at $3,376,000 after acquiring an additional 4,107 shares during the last quarter. Camden National Bank grew its stake in NIKE by 61.0% in the 3rd quarter. Camden National Bank now owns 86,834 shares of the footwear maker’s stock valued at $7,676,000 after purchasing an additional 32,915 shares during the period. Meridian Wealth Management LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at $261,000. Icon Wealth Advisors LLC raised its stake in shares of NIKE by 293.5% during the 3rd quarter. Icon Wealth Advisors LLC now owns 31,495 shares of the footwear maker’s stock worth $2,784,000 after purchasing an additional 23,492 shares during the period. Finally, GM Advisory Group LLC boosted its holdings in shares of NIKE by 39.2% in the 3rd quarter. GM Advisory Group LLC now owns 12,023 shares of the footwear maker’s stock worth $1,063,000 after buying an additional 3,385 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $79.26 on Tuesday. The company’s fifty day moving average price is $80.50 and its 200-day moving average price is $82.42. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market capitalization of $118.84 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the firm earned $0.94 earnings per share. The firm’s revenue was down 10.4% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 45.85%.

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Barclays lowered their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. UBS Group lifted their price target on shares of NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Robert W. Baird raised their target price on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Finally, Jefferies Financial Group increased their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.86.

NIKE 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.