DeDora Capital Inc. Trims Stake in NIKE, Inc. (NYSE:NKE)

DeDora Capital Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 3,304 shares of the footwear maker’s stock after selling 192 shares during the period. DeDora Capital Inc.’s holdings in NIKE were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of NKE. Advisors Asset Management Inc. lifted its position in NIKE by 86.0% during the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after acquiring an additional 9,689 shares during the period. FORA Capital LLC purchased a new stake in shares of NIKE in the first quarter valued at $3,412,000. Cetera Advisors LLC lifted its stake in shares of NIKE by 85.5% during the first quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock worth $8,298,000 after purchasing an additional 40,704 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in NIKE in the first quarter valued at about $713,000. Finally, New Mexico Educational Retirement Board grew its holdings in NIKE by 15.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 74,248 shares of the footwear maker’s stock worth $6,978,000 after buying an additional 10,100 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Up 1.0 %

NIKE stock traded up $0.80 during midday trading on Tuesday, hitting $82.28. 987,188 shares of the stock were exchanged, compared to its average volume of 11,626,963. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The stock has a market capitalization of $124.19 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The business’s 50-day moving average price is $82.77 and its 200-day moving average price is $85.19. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.94 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.8 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Royal Bank of Canada lowered their target price on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating on the stock in a research report on Wednesday, October 2nd. Stifel Nicolaus reduced their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

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.