Valeo Financial Advisors LLC Sells 6,416 Shares of NIKE, Inc. $NKE

Valeo Financial Advisors LLC cut its holdings in NIKE, Inc. (NYSE:NKE) by 20.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,721 shares of the footwear maker’s stock after selling 6,416 shares during the quarter. Valeo Financial Advisors LLC’s holdings in NIKE were worth $1,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Caldwell Sutter Capital Inc. boosted its stake in NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after acquiring an additional 142 shares during the last quarter. Westmount Partners LLC boosted its stake in NIKE by 2.9% in the second quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after acquiring an additional 146 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of NIKE by 0.3% during the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock worth $3,695,000 after purchasing an additional 147 shares in the last quarter. Matrix Trust Co boosted its position in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Summit Financial Strategies Inc. boosted its position in shares of NIKE by 3.8% during the second quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker’s stock worth $303,000 after purchasing an additional 155 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 0.9%

NKE opened at $71.25 on Tuesday. The stock has a market capitalization of $105.23 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.64 and a beta of 1.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The firm’s fifty day simple moving average is $74.46 and its 200 day simple moving average is $67.26. 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 posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. NIKE’s payout ratio is presently 82.05%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NKE. Sanford C. Bernstein reissued a “buy” rating and set a $90.00 price target on shares of NIKE in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $77.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, June 20th. Weiss Ratings reissued a “sell (d+)” rating on shares of NIKE in a research report on Saturday, September 27th. Bank of America lifted their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, June 27th. Finally, Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.57.

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.