Great Valley Advisor Group Inc. Raises Position in NIKE, Inc. (NYSE:NKE)

Great Valley Advisor Group Inc. grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.9% during the third quarter, Holdings Channel reports. The institutional investor owned 11,409 shares of the footwear maker’s stock after purchasing an additional 532 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in NIKE were worth $1,009,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of NKE. Waverly Advisors LLC increased its stake in NIKE by 33.2% in the 1st quarter. Waverly Advisors LLC now owns 11,758 shares of the footwear maker’s stock worth $1,105,000 after purchasing an additional 2,931 shares during the period. Kennedy Capital Management LLC bought a new stake in NIKE during the 1st quarter valued at $5,454,000. B. Riley Wealth Advisors Inc. boosted its position in NIKE by 17.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 58,025 shares of the footwear maker’s stock valued at $5,568,000 after buying an additional 8,458 shares during the period. Tidal Investments LLC grew its holdings in NIKE by 26.2% in the 1st quarter. Tidal Investments LLC now owns 53,670 shares of the footwear maker’s stock worth $5,045,000 after acquiring an additional 11,140 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of NIKE in the first quarter valued at about $350,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Guggenheim cut their target price on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and raised their price target for the stock from $67.00 to $93.00 in a research note on Friday, August 16th. Bank of America cut their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price objective on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

NIKE Trading Up 2.4 %

Shares of NKE stock opened at $79.26 on Tuesday. The stock has a market capitalization of $118.84 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.88 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $80.50 and its 200 day moving average is $82.42. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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 return on equity of 39.84% and a net margin of 10.60%. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. NIKE’s revenue was down 10.4% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 2.75 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.02%. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

NIKE 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.