NIKE, Inc. (NYSE:NKE) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

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

A number of other large investors have also modified their holdings of NKE. Transcendent Capital Group LLC raised its stake in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares in the last quarter. VitalStone Financial LLC raised its stake in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in NIKE in the 2nd quarter valued at approximately $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in NIKE in the 2nd quarter valued at approximately $46,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The sale 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.

NIKE Stock Performance

NKE stock opened at $76.43 on Thursday. 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 stock has a market capitalization of $114.60 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 1.90 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The stock’s fifty day moving average is $82.37 and its two-hundred day moving average is $84.67.

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on NKE shares. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and raised their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Evercore ISI dropped their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. UBS Group raised their price objective on NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Finally, Wells Fargo & Company raised their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

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.