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

Valmark Advisers Inc. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 0.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,047 shares of the footwear maker’s stock after selling 131 shares during the period. Valmark Advisers Inc.’s holdings in NIKE were worth $1,330,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Azzad Asset Management Inc. ADV raised its holdings in shares of NIKE by 1.7% in the first quarter. Azzad Asset Management Inc. ADV now owns 20,339 shares of the footwear maker’s stock valued at $1,911,000 after buying an additional 347 shares during the last quarter. Albion Financial Group UT increased its holdings in shares of NIKE by 3.0% in the first quarter. Albion Financial Group UT now owns 5,223 shares of the footwear maker’s stock valued at $491,000 after purchasing an additional 150 shares in the last quarter. Valley National Advisers Inc. raised its position in NIKE by 32.3% in the 1st quarter. Valley National Advisers Inc. now owns 2,273 shares of the footwear maker’s stock worth $213,000 after purchasing an additional 555 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in NIKE by 24.5% during the 1st quarter. Kovack Advisors Inc. now owns 2,469 shares of the footwear maker’s stock worth $232,000 after buying an additional 486 shares in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its position in NIKE by 0.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 29,202 shares of the footwear maker’s stock valued at $2,744,000 after buying an additional 257 shares during the last quarter. 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 firm’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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.6 %

Shares of NIKE stock opened at $78.44 on Wednesday. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. 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 business’s 50 day simple moving average is $82.52 and its 200 day simple moving average is $84.72. The firm has a market cap of $117.61 billion, a PE ratio of 22.48, a P/E/G ratio of 1.90 and a beta of 1.02.

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

NIKE Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on NKE shares. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Bank of America reduced their target price on shares of NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 2nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.56.

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.