Valmark Advisers Inc. Has $1.33 Million Stake in NIKE, Inc. (NYSE:NKE)

Valmark Advisers Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,047 shares of the footwear maker’s stock after selling 131 shares during the quarter. Valmark Advisers Inc.’s holdings in NIKE were worth $1,330,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bristlecone Advisors LLC lifted its stake in NIKE by 14.3% in the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in shares of NIKE by 44.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after purchasing an additional 60,008 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after purchasing an additional 9,689 shares during the period. Lafayette Investments Inc. grew its position in NIKE by 90.7% during the third quarter. Lafayette Investments Inc. now owns 46,097 shares of the footwear maker’s stock valued at $4,075,000 after purchasing an additional 21,922 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in NIKE during the first quarter valued at approximately $3,412,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NKE shares. Royal Bank of Canada decreased their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Barclays dropped their target price on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and boosted their price target for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a research report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Stock Down 0.6 %

Shares of NKE opened at $78.44 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a 50-day simple moving average of $82.52 and a 200-day simple moving average of $84.72. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a market capitalization of $117.61 billion, a P/E ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. On average, equities research analysts expect that NIKE, Inc. will post 2.76 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

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.