Doliver Advisors LP Purchases New Shares in NIKE, Inc. (NYSE:NKE)

Doliver Advisors LP acquired a new position in NIKE, Inc. (NYSE:NKE) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,327 shares of the footwear maker’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of NIKE by 3.3% during the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP grew its stake in NIKE by 5.1% in the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the period. Geode Capital Management LLC increased its position in shares of NIKE by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after purchasing an additional 251,411 shares during the last quarter. Legal & General Group Plc raised its stake in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock worth $910,801,000 after buying an additional 583,207 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 1.7 %

Shares of NKE stock opened at $72.05 on Tuesday. The business has a 50-day moving average price of $76.77 and a two-hundred day moving average price of $78.93. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $107.43. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The firm has a market cap of $108.03 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.22%. NIKE’s payout ratio is currently 49.38%.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction dated Friday, December 27th. The stock was bought at an average price 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. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Jefferies Financial Group raised their price objective on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Truist Financial dropped their price objective on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and set a $84.00 price objective on shares of NIKE in a report on Friday, December 20th. Telsey Advisory Group downgraded NIKE from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $93.00 to $80.00 in a research report on Friday, December 20th. Finally, Robert W. Baird dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Fifteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $89.58.

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.