Valley Brook Capital Group Inc. Trims Stock Holdings in NIKE, Inc. $NKE

Valley Brook Capital Group Inc. decreased its stake in NIKE, Inc. (NYSE:NKE) by 2.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,050 shares of the footwear maker’s stock after selling 250 shares during the period. Valley Brook Capital Group Inc.’s holdings in NIKE were worth $643,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Spire Wealth Management increased its position in NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock worth $627,000 after buying an additional 416 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock worth $69,932,000 after purchasing an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of NIKE during the first quarter worth about $25,963,000. BROOKFIELD Corp ON grew its position in shares of NIKE by 36.2% during the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares in the last quarter. Finally, Cadence Bank grew its position in shares of NIKE by 10.0% during the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after purchasing an additional 7,574 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NKE shares. Evercore ISI cut their target price on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, June 24th. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. KeyCorp set a $90.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Barclays set a $70.00 target price on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Finally, Stifel Nicolaus set a $68.00 target price on NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock valued at $14,794,264 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $65.25 on Friday. The stock has a 50 day moving average of $73.80 and a 200 day moving average of $67.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The firm has a market cap of $96.45 billion, a PE ratio of 33.46, a PEG ratio of 2.38 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

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.