Valmark Advisers Inc. Has $1.24 Million Holdings in NIKE, Inc. (NYSE:NKE)

Valmark Advisers Inc. lifted its position in NIKE, Inc. (NYSE:NKE) by 11.7% in the 4th quarter, Holdings Channel reports. The fund owned 11,394 shares of the footwear maker’s stock after buying an additional 1,191 shares during the period. Valmark Advisers Inc.’s holdings in NIKE were worth $1,237,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Oliver Luxxe Assets LLC lifted its position in shares of NIKE by 2.9% in the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after acquiring an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in NIKE in the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. lifted its position in NIKE by 2,332.5% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares in the last quarter. International Assets Investment Management LLC lifted its position in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after buying an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its position in NIKE by 55.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after buying an additional 69,363 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NYSE NKE traded up $0.18 during midday trading on Friday, hitting $94.12. The company had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The stock has a market cap of $142.06 billion, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.82 and a beta of 1.08. The firm has a fifty day simple moving average of $96.96 and a two-hundred day simple moving average of $103.34. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $128.68.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Equities analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.57%. NIKE’s dividend payout ratio is 43.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NKE shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price (down previously from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Stifel Nicolaus cut their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Jefferies Financial Group dropped their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research note on Friday, March 22nd. TheStreet lowered shares of NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Finally, UBS Group dropped their price target on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

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.