Valicenti Advisory Services Inc. Sells 7,050 Shares of NIKE, Inc. (NYSE:NKE)

Valicenti Advisory Services Inc. lessened its position in NIKE, Inc. (NYSE:NKE) by 34.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,680 shares of the footwear maker’s stock after selling 7,050 shares during the period. Valicenti Advisory Services Inc.’s holdings in NIKE were worth $1,510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Meiji Yasuda Life Insurance Co raised its stake in shares of NIKE by 0.3% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 29,026 shares of the footwear maker’s stock worth $3,396,000 after acquiring an additional 80 shares in the last quarter. Vestcor Inc raised its stake in shares of NIKE by 0.3% during the fourth quarter. Vestcor Inc now owns 29,977 shares of the footwear maker’s stock worth $3,508,000 after acquiring an additional 81 shares in the last quarter. CWS Financial Advisors LLC raised its stake in shares of NIKE by 2.9% during the first quarter. CWS Financial Advisors LLC now owns 2,896 shares of the footwear maker’s stock worth $355,000 after acquiring an additional 82 shares in the last quarter. Essex Savings Bank raised its stake in shares of NIKE by 1.2% during the first quarter. Essex Savings Bank now owns 6,940 shares of the footwear maker’s stock worth $851,000 after acquiring an additional 83 shares in the last quarter. Finally, West Family Investments Inc. raised its stake in shares of NIKE by 2.9% during the first quarter. West Family Investments Inc. now owns 3,029 shares of the footwear maker’s stock worth $371,000 after acquiring an additional 84 shares in the last quarter. Institutional investors own 63.42% of the company’s stock.

Insider Transactions at NIKE

In other news, EVP Monique S. Matheson sold 40,000 shares of NIKE stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $108.59, for a total value of $4,343,600.00. Following the completion of the transaction, the executive vice president now owns 44,736 shares of the company’s stock, valued at approximately $4,857,882.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NIKE news, VP Johanna Nielsen sold 1,706 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $107.00, for a total value of $182,542.00. Following the completion of the transaction, the vice president now owns 954 shares of the company’s stock, valued at approximately $102,078. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Monique S. Matheson sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $108.59, for a total transaction of $4,343,600.00. Following the sale, the executive vice president now directly owns 44,736 shares of the company’s stock, valued at approximately $4,857,882.24. The disclosure for this sale can be found here. Insiders sold a total of 157,251 shares of company stock valued at $17,063,257 in the last quarter. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Telsey Advisory Group reissued an “outperform” rating and set a $135.00 price target on shares of NIKE in a research note on Friday, June 30th. Robert W. Baird decreased their target price on shares of NIKE from $138.00 to $130.00 and set an “outperform” rating on the stock in a research note on Monday, July 3rd. Wedbush lifted their target price on shares of NIKE from $129.00 to $131.00 and gave the stock an “outperform” rating in a research note on Friday, June 30th. VNET Group reaffirmed a “maintains” rating on shares of NIKE in a research note on Friday, June 30th. Finally, Morgan Stanley decreased their target price on shares of NIKE from $130.00 to $127.00 and set an “overweight” rating on the stock in a research note on Sunday, July 2nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $129.07.

NIKE Stock Down 0.5 %

Shares of NKE stock traded down $0.51 during mid-day trading on Tuesday, reaching $95.00. 1,010,014 shares of the company’s stock traded hands, compared to its average volume of 6,898,730. NIKE, Inc. has a 12 month low of $82.22 and a 12 month high of $131.31. The company has a market cap of $145.35 billion, a P/E ratio of 29.57, a P/E/G ratio of 1.70 and a beta of 1.12. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $104.70 and its 200-day moving average price is $112.67.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.02). The company had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.58 billion. NIKE had a return on equity of 34.01% and a net margin of 9.90%. NIKE’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. On average, equities analysts expect that NIKE, Inc. will post 3.71 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, September 1st. NIKE’s dividend payout ratio is presently 42.11%.

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.