UNIVEST FINANCIAL Corp Reduces Stake in NIKE, Inc. (NYSE:NKE)

UNIVEST FINANCIAL Corp decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 94.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,890 shares of the footwear maker’s stock after selling 132,294 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in NIKE were worth $597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd grew its position in NIKE by 599.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 797 shares of the footwear maker’s stock worth $70,000 after acquiring an additional 683 shares during the period. D.A. Davidson & CO. grew its holdings in shares of NIKE by 11.8% during the 3rd quarter. D.A. Davidson & CO. now owns 104,951 shares of the footwear maker’s stock worth $9,278,000 after purchasing an additional 11,108 shares during the period. Cadence Bank increased its position in shares of NIKE by 2.8% during the 3rd quarter. Cadence Bank now owns 55,282 shares of the footwear maker’s stock worth $4,887,000 after purchasing an additional 1,520 shares during the last quarter. Soros Capital Management LLC lifted its position in NIKE by 3.6% in the third quarter. Soros Capital Management LLC now owns 36,804 shares of the footwear maker’s stock valued at $3,253,000 after buying an additional 1,264 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in NIKE by 35.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,300 shares of the footwear maker’s stock worth $9,220,000 after buying an additional 27,400 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NKE shares. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Barclays decreased their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Morgan Stanley dropped their price objective on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Wells Fargo & Company decreased their target price on NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a research note on Monday, March 17th. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $87.38.

NIKE Stock Performance

Shares of NKE stock opened at $65.76 on Thursday. NIKE, Inc. has a 1 year low of $64.95 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $97.26 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 2.52 and a beta of 1.02. The stock’s 50-day moving average is $74.42 and its two-hundred day moving average is $77.13.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the prior year, the business earned $0.98 EPS. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.43%. NIKE’s dividend payout ratio is currently 53.16%.

Insiders Place Their Bets

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

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.