NIKE, Inc. (NYSE:NKE) Shares Sold by Central Valley Advisors LLC

Central Valley Advisors LLC lessened its position in NIKE, Inc. (NYSE:NKE) by 10.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,606 shares of the footwear maker’s stock after selling 443 shares during the period. Central Valley Advisors LLC’s holdings in NIKE were worth $319,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NKE. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares during the last quarter. True Wealth Design LLC grew its position in shares of NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares during the period. Core Wealth Advisors Inc. lifted its position in NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after buying an additional 241 shares during the period. Pineridge Advisors LLC acquired a new stake in NIKE in the 4th quarter worth about $38,000. Finally, Transcendent Capital Group LLC grew its holdings in NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NYSE NKE traded up $0.15 during midday trading on Friday, hitting $82.25. The company’s stock had a trading volume of 10,342,355 shares, compared to its average volume of 11,783,974. The firm has a market cap of $124.14 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.30 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 firm’s fifty day moving average price is $80.90 and its 200-day moving average price is $86.24. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share. On average, sell-side analysts forecast that NIKE, Inc. will post 3.04 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NKE. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. UBS Group upped their price objective on NIKE from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays lowered their price target on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Oppenheimer restated an “outperform” rating and set a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $96.04.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction on 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 transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% 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.