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

Key Points

• Valeo Financial Advisors LLC reduced its stake in NIKE, Inc. by 20% in the second quarter, selling 6,416 shares and bringing their total holdings to 25,721 shares valued at approximately $1.83 million.
• Several hedge funds increased their investments in NIKE, with notable increases from Goldman Sachs (344.2% increase) and Wellington Management (24.9% increase) during the first quarter.
• NIKE's recent earnings report showed a revenue of $11.72 billion for the quarter, exceeding estimates, with an earnings per share of $0.49 compared to analyst expectations of $0.27.

Valeo Financial Advisors LLC lessened its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,721 shares of the footwear maker's stock after selling 6,416 shares during the period. Valeo Financial Advisors LLC's holdings in NIKE were worth $1,827,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in NKE. Goldman Sachs Group Inc. lifted its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after buying an additional 20,688,013 shares during the period. Wellington Management Group LLP lifted its stake in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Jennison Associates LLC bought a new position in NIKE during the first quarter worth about $509,051,000. Nuveen LLC bought a new position in NIKE during the first quarter worth about $502,285,000. Finally, Vanguard Group Inc. lifted its stake in NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NKE. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, September 6th. Evercore ISI cut their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. Argus upgraded shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Truist Financial reaffirmed a "buy" rating and set a $85.00 price objective on shares of NIKE in a report on Wednesday, October 1st. Finally, KeyCorp set a $90.00 price objective on shares of NIKE and gave the stock an "overweight" rating in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $81.57.

NIKE Stock Performance

Shares of NIKE stock opened at $71.25 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The firm has a market cap 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. The firm has a 50 day simple moving average of $74.46 and a 200 day simple moving average of $67.26. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. NIKE's dividend payout ratio (DPR) is currently 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.

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