Hudson Valley Investment Advisors Inc. ADV Purchases 1,356 Shares of NIKE, Inc. (NYSE:NKE)

Hudson Valley Investment Advisors Inc. ADV increased its position in shares of NIKE, Inc. (NYSE:NKE) by 19.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,299 shares of the footwear maker’s stock after purchasing an additional 1,356 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in NIKE were worth $625,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in NIKE in the fourth quarter valued at $1,315,097,000. Price T Rowe Associates Inc. MD grew its position in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Capital International Investors grew its position in NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD bought a new stake in NIKE in the first quarter valued at $533,533,000. Finally, Capital World Investors grew its position in NIKE by 612.2% in the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the transaction, the director now directly owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold 323,660 shares of company stock valued at $27,973,033 in the last ninety days. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Stifel Nicolaus reissued a “hold” rating and issued a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research note on Friday, June 28th. Morgan Stanley reissued an “equal weight” rating and issued a $79.00 price objective (down previously from $114.00) on shares of NIKE in a research note on Friday, June 28th. Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $109.00 to $80.00 in a research note on Friday, June 28th. Citigroup reduced their price objective on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $96.30.

NIKE Trading Down 3.5 %

NKE traded down $2.58 during midday trading on Monday, hitting $71.43. 13,168,916 shares of the company were exchanged, compared to its average volume of 11,461,178. The firm has a market capitalization of $107.81 billion, a P/E ratio of 19.33, a P/E/G ratio of 1.92 and a beta of 1.01. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm’s 50 day moving average price is $83.71 and its 200-day moving average price is $92.57. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 EPS. As a group, equities analysts forecast that NIKE, Inc. will post 3.12 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is 39.68%.

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.