Doliver Advisors LP Makes New Investment in NIKE, Inc. (NYSE:NKE)

Doliver Advisors LP acquired a new stake in NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,327 shares of the footwear maker’s stock, valued at approximately $252,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of NIKE by 11.1% during the second quarter. Victory Capital Management Inc. now owns 711,351 shares of the footwear maker’s stock valued at $53,615,000 after buying an additional 70,903 shares during the period. Private Advisor Group LLC raised its holdings in NIKE by 17.3% in the 2nd quarter. Private Advisor Group LLC now owns 73,166 shares of the footwear maker’s stock worth $5,515,000 after purchasing an additional 10,794 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of NIKE by 3.6% in the 2nd quarter. Great Lakes Advisors LLC now owns 37,790 shares of the footwear maker’s stock worth $2,848,000 after purchasing an additional 1,310 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of NIKE during the 2nd quarter valued at about $48,000. Finally, Chris Bulman Inc purchased a new position in shares of NIKE during the second quarter valued at about $51,000. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada cut their price objective on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Sanford C. Bernstein reduced their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Finally, Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $89.58.

NIKE Stock Down 1.7 %

Shares of NIKE stock opened at $72.05 on Tuesday. 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 company has a market cap of $108.03 billion, a P/E ratio of 20.64, a PEG ratio of 1.89 and a beta of 1.02. The firm’s 50 day moving average price is $76.77 and its 200-day moving average price is $78.93. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $107.43.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. NIKE’s revenue was down 7.7% compared to the same quarter last year. During the same period last year, the firm earned $1.03 earnings per share. On average, sell-side analysts predict that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

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

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate 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.