Valmark Advisers Inc. Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Valmark Advisers Inc. boosted its position in NIKE, Inc. (NYSE:NKE) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,178 shares of the footwear maker’s stock after purchasing an additional 281 shares during the quarter. Valmark Advisers Inc.’s holdings in NIKE were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC increased its stake in NIKE by 106.4% in the fourth 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 during the last quarter. Frank Rimerman Advisors LLC acquired a new position in NIKE in the fourth quarter valued at $33,000. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the period. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE in the 4th quarter worth about $36,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their price objective on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. BMO Capital Markets cut their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, August 23rd. Stifel Nicolaus dropped their price objective on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Finally, Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $109.00 to $80.00 in a research report on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $95.59.

NIKE Trading Up 0.1 %

Shares of NKE opened at $83.32 on Monday. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The stock has a 50-day moving average price of $77.91 and a 200 day moving average price of $89.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The company has a market capitalization of $124.93 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.19 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. During the same period in the prior year, the company posted $0.66 EPS. NIKE’s quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 3.1 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.78%. NIKE’s payout ratio is 39.68%.

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.