NIKE, Inc. (NYSE:NKE) Shares Sold by Dover Advisors LLC

Dover Advisors LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,148 shares of the footwear maker’s stock after selling 510 shares during the period. Dover Advisors LLC’s holdings in NIKE were worth $1,543,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NKE. Brighton Jones LLC increased its position in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of NIKE by 26.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 410,249 shares of the footwear maker’s stock worth $30,262,000 after purchasing an additional 86,256 shares in the last quarter. Ingalls & Snyder LLC increased its position in shares of NIKE by 107.6% during the fourth quarter. Ingalls & Snyder LLC now owns 8,623 shares of the footwear maker’s stock worth $653,000 after purchasing an additional 4,469 shares in the last quarter. Avestar Capital LLC increased its position in shares of NIKE by 23.4% during the fourth quarter. Avestar Capital LLC now owns 8,337 shares of the footwear maker’s stock worth $634,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Life Planning Partners Inc acquired a new position in shares of NIKE during the fourth quarter worth $11,183,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NKE shares. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Citigroup dropped their price objective on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Royal Bank of Canada dropped their price objective on shares of NIKE from $66.00 to $65.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 20th. Piper Sandler dropped their price objective on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Stifel Nicolaus lowered their price target on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.26.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan purchased 8,600 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were purchased at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

NIKE Trading Down 3.8%

NKE stock opened at $60.44 on Friday. The company’s 50-day simple moving average is $59.38 and its 200-day simple moving average is $68.73. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The firm has a market cap of $89.40 billion, a P/E ratio of 18.65, a PEG ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the prior year, the company posted $0.98 EPS. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio is presently 53.16%.

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.