Valeo Financial Advisors LLC Sells 10,993 Shares of NIKE, Inc. (NYSE:NKE)

Valeo Financial Advisors LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 31.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,838 shares of the footwear maker’s stock after selling 10,993 shares during the period. Valeo Financial Advisors LLC’s holdings in NIKE were worth $1,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cornerstone Wealth Management LLC purchased a new position in NIKE during the third quarter worth $390,000. Good Life Advisors LLC bought a new stake in shares of NIKE in the 3rd quarter worth about $316,000. Global Retirement Partners LLC boosted its stake in shares of NIKE by 12.8% during the 3rd quarter. Global Retirement Partners LLC now owns 20,159 shares of the footwear maker’s stock worth $1,782,000 after purchasing an additional 2,289 shares during the period. Trust Point Inc. grew its holdings in NIKE by 3.1% during the 3rd quarter. Trust Point Inc. now owns 6,475 shares of the footwear maker’s stock valued at $572,000 after purchasing an additional 194 shares during the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in NIKE by 6.7% in the third quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker’s stock worth $716,000 after purchasing an additional 506 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE opened at $73.02 on Friday. The firm has a market capitalization of $108.00 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company’s fifty day moving average price is $74.46 and its 200-day moving average price is $78.00. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.34.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NKE. TD Cowen cut their target price on NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. UBS Group reiterated a “neutral” rating and issued a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. BMO Capital Markets boosted their target price on shares of NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Monday, February 3rd. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.62.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.10% 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.