Valeo Financial Advisors LLC Trims Stake in NIKE, Inc. (NYSE:NKE)

Valeo Financial Advisors LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 31.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,838 shares of the footwear maker’s stock after selling 10,993 shares during the quarter. Valeo Financial Advisors LLC’s holdings in NIKE were worth $1,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in NKE. Cornerstone Wealth Management LLC bought a new stake in NIKE during the third quarter worth about $390,000. Good Life Advisors LLC bought a new position in NIKE during the 3rd quarter valued at approximately $316,000. Global Retirement Partners LLC raised its stake in NIKE by 12.8% during the third quarter. Global Retirement Partners LLC now owns 20,159 shares of the footwear maker’s stock valued at $1,782,000 after buying an additional 2,289 shares during the last quarter. Trust Point Inc. grew its stake in shares of NIKE by 3.1% in the third quarter. Trust Point Inc. now owns 6,475 shares of the footwear maker’s stock worth $572,000 after acquiring an additional 194 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in shares of NIKE by 6.7% during the third quarter. Stratos Wealth Advisors LLC now owns 8,104 shares of the footwear maker’s stock valued at $716,000 after acquiring an additional 506 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of a number of analyst reports. Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Wells Fargo & Company lowered their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Monday, December 16th. Royal Bank of Canada reduced their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Bank of America dropped their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Trading Down 0.3 %

NKE stock opened at $73.02 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $107.34. The business has a 50 day simple moving average of $74.46 and a two-hundred day simple moving average of $78.00. The company has a market capitalization of $108.00 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the company posted $1.03 earnings per share. Research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. NIKE’s dividend payout ratio is currently 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

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.