Dover Advisors LLC Sells 451 Shares of NIKE, Inc. $NKE

Dover Advisors LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,697 shares of the footwear maker’s stock after selling 451 shares during the period. Dover Advisors LLC’s holdings in NIKE were worth $1,683,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its stake in shares of NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after acquiring an additional 9,043,180 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of NIKE in the 1st quarter valued at about $509,051,000. Nuveen LLC purchased a new position in NIKE during the 1st quarter valued at about $502,285,000. Finally, Vanguard Group Inc. increased its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $73.12 on Monday. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $107.98 billion, a P/E ratio of 33.85, a PEG ratio of 2.65 and a beta of 1.24. The stock’s 50 day moving average is $75.40 and its 200 day moving average is $67.63. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analysts’ expectations of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The firm’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.99 EPS. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 74.07%.

Analyst Ratings Changes

A number of research analysts recently issued reports on NKE shares. Bank of America boosted their price target on NIKE from $80.00 to $84.00 and gave the company a “buy” rating in a report on Friday, June 27th. Citigroup upped their target price on NIKE from $57.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, June 27th. Robert W. Baird upped their target price on NIKE from $80.00 to $88.00 and gave the stock an “outperform” rating in a report on Friday, June 27th. Needham & Company LLC upped their target price on NIKE from $66.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, June 27th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $70.00 target price on shares of NIKE in a report on Friday, June 27th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.67.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% 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.