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

Dover Advisors LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 20.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,645 shares of the footwear maker’s stock after selling 4,750 shares during the quarter. NIKE makes up 2.7% of Dover Advisors LLC’s portfolio, making the stock its 6th biggest holding. Dover Advisors LLC’s holdings in NIKE were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Marco Investment Management LLC acquired a new stake in shares of NIKE during the 4th quarter valued at about $209,000. Silver Oak Securities Incorporated lifted its stake in NIKE by 41.1% in the fourth quarter. Silver Oak Securities Incorporated now owns 2,642 shares of the footwear maker’s stock valued at $287,000 after acquiring an additional 770 shares during the last quarter. Fiduciary Group LLC grew its position in NIKE by 9.8% in the fourth quarter. Fiduciary Group LLC now owns 37,319 shares of the footwear maker’s stock worth $4,052,000 after acquiring an additional 3,333 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of NIKE by 8.9% during the 4th quarter. Retirement Systems of Alabama now owns 774,760 shares of the footwear maker’s stock worth $84,116,000 after purchasing an additional 63,458 shares during the last quarter. Finally, Magnus Financial Group LLC lifted its stake in shares of NIKE by 13.8% in the 4th quarter. Magnus Financial Group LLC now owns 14,913 shares of the footwear maker’s stock valued at $1,619,000 after purchasing an additional 1,808 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NKE shares. Barclays cut their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Piper Sandler dropped their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Sanford C. Bernstein reduced their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company 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, Williams Trading reissued a “sell” rating and set a $85.00 target price (down previously from $92.00) on shares of NIKE in a research report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Price Performance

Shares of NYSE:NKE traded up $0.18 during trading on Friday, reaching $94.12. The stock had a trading volume of 6,115,744 shares, compared to its average volume of 9,124,711. The stock has a market capitalization of $142.06 billion, a PE ratio of 27.68, a P/E/G ratio of 1.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The business’s 50-day moving average price is $96.96 and its 200 day moving average price is $103.37.

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

NIKE Dividend Announcement

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

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.