Hudson Valley Investment Advisors Inc. ADV Trims Stake in NIKE, Inc. (NYSE:NKE)

Hudson Valley Investment Advisors Inc. ADV cut its holdings in NIKE, Inc. (NYSE:NKE) by 26.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,087 shares of the footwear maker’s stock after selling 2,212 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in NIKE were worth $538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares in the last quarter. Legal & General Group Plc increased its position in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after buying an additional 571,544 shares in the last quarter. Jennison Associates LLC increased its position in shares of NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after acquiring an additional 52,500 shares during the last quarter. Finally, Longview Partners Guernsey LTD acquired a new stake in shares of NIKE in the first quarter worth approximately $533,533,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Stifel Nicolaus lowered their price target on NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research note on Monday, August 26th. Telsey Advisory Group lowered their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Bank of America lowered their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.56.

NIKE Price Performance

NKE stock opened at $76.43 on Thursday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $114.60 billion, a PE ratio of 21.90, a P/E/G ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The business’s fifty day moving average price is $82.37 and its 200 day moving average price is $84.67.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for 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%. NIKE’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 EPS. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.76 EPS for the current year.

Insider Activity 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 stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.