Valley National Advisers Inc. Acquires 2,027 Shares of NIKE, Inc. (NYSE:NKE)

Valley National Advisers Inc. raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,563 shares of the footwear maker’s stock after purchasing an additional 2,027 shares during the period. Valley National Advisers Inc.’s holdings in NIKE were worth $3,231,000 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. Goldstein Advisors LLC bought a new position in shares of NIKE during the third quarter valued at approximately $212,000. Kavar Capital Partners Group LLC increased its stake in shares of NIKE by 4.5% during the third quarter. Kavar Capital Partners Group LLC now owns 57,340 shares of the footwear maker’s stock valued at $5,069,000 after purchasing an additional 2,463 shares in the last quarter. Frank Rimerman Advisors LLC increased its stake in shares of NIKE by 20.5% during the third quarter. Frank Rimerman Advisors LLC now owns 18,349 shares of the footwear maker’s stock valued at $1,622,000 after purchasing an additional 3,122 shares in the last quarter. Bristlecone Advisors LLC increased its stake in shares of NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares in the last quarter. Finally, Mattern Capital Management LLC increased its stake in shares of NIKE by 7.3% during the third quarter. Mattern Capital Management LLC now owns 90,992 shares of the footwear maker’s stock valued at $8,044,000 after purchasing an additional 6,159 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NKE. Evercore ISI reduced their price target on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Jefferies Financial Group raised their price target 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. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price target for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Stifel Nicolaus reduced their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Finally, Barclays reduced their price target on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $96.56.

NIKE Stock Performance

NKE opened at $78.85 on Friday. The firm has a market capitalization of $118.22 billion, a PE ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The firm’s 50-day moving average price is $82.71 and its 200 day moving average price is $84.94. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. As a group, sell-side analysts expect that NIKE, Inc. will post 2.78 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on 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 completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.10% of the company’s stock.

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.