Valley Wealth Managers Inc. Acquires 693 Shares of NIKE, Inc. (NYSE:NKE)

Valley Wealth Managers Inc. grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 69,300.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694 shares of the footwear maker’s stock after buying an additional 693 shares during the quarter. Valley Wealth Managers Inc.’s holdings in NIKE were worth $61,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NKE. Garrison Point Advisors LLC increased its position in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC grew its holdings in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the period. Pitcairn Co. lifted its position in shares of NIKE by 0.5% in the first quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock valued at $2,732,000 after buying an additional 132 shares during the last quarter. Finally, Chapin Davis Inc. increased its holdings in shares of NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after acquiring an additional 133 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.3 %

NKE opened at $76.66 on Friday. The company has a market cap of $114.94 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a fifty day moving average price of $80.89 and a two-hundred day moving average price of $83.27. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.75 and a 1-year 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 analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. Analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research reports. TD Cowen raised their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Barclays decreased their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus dropped their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.48.

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.