Hudson Valley Investment Advisors Inc. ADV Sells 1,650 Shares of NIKE, Inc. (NYSE:NKE)

Hudson Valley Investment Advisors Inc. ADV reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 27.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,437 shares of the footwear maker’s stock after selling 1,650 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in NIKE were worth $336,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Garrison Point Advisors LLC raised its stake in 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 buying an additional 126 shares during the period. Stephens Consulting LLC raised its stake in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC raised its stake in shares of NIKE by 26.3% in 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 last quarter. Chapin Davis Inc. raised its stake in shares of NIKE by 1.2% in the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC raised its stake in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after purchasing an additional 133 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 0.0 %

NYSE NKE opened at $71.31 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $106.92 billion, a PE ratio of 20.43, a PEG ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $107.43. The business’s 50-day moving average is $76.29 and its 200 day moving average is $78.47.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $1.03 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 2.72 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Evercore ISI decreased their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Bank of America decreased their price target on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Truist Financial reduced their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Royal Bank of Canada reduced their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, UBS Group reissued a “neutral” rating and set a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by insiders.

About NIKE

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.