Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in NIKE, Inc. (NYSE: NKE – Get Rating) by 8.2% in the 1st quarter, Holdings Channel reports. The firm owned 217,845 shares of the footwear maker’s stock after purchasing an additional 16,479 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in NIKE were worth $ 29,313,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Integrated Investment Consultants LLC increased its position in NIKE by 11.0% in the 4th quarter. Integrated Investment Consultants LLC now owns 1,853 shares of the footwear maker’s stock worth $ 309,000 after buying an additional 183 shares during the period. ProShare Advisors LLC increased its position in NIKE by 26.2% in the 4th quarter. ProShare Advisors LLC now owns 494,736 shares of the footwear maker’s stock worth $ 82,459,000 after buying an additional 102,792 shares during the period. Beese Fulmer Investment Management Inc. increased its position in NIKE by 8.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 5,258 shares of the footwear maker’s stock worth $ 876,000 after buying an additional 413 shares during the period. Aurora Private Wealth Inc. bought a new position in NIKE in the 4th quarter worth approximately $ 266,000. Finally, Desjardins Global Asset Management Inc. bought a new position in NIKE in the 4th quarter worth approximately $ 1,841,000. Hedge funds and other institutional investors own 65.35% of the company stock.
Several research analysts have commented on NKE shares. BMO Capital Markets dropped their price target on NIKE from $ 142.00 to $ 128.00 and set an “outperform” rating on the stock in a research report on Tuesday. Robert W. Baird dropped their price target on NIKE from $ 150.00 to $ 140.00 and set an “outperform” rating on the stock in a research report on Tuesday. Jefferies Financial Group set a $ 155.00 price objective on NIKE in a research report on Tuesday. Seaport Res Ptn cut NIKE from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 22nd. Finally, Stifel Nicolaus lowered their price objective on NIKE from $ 150.00 to $ 135.00 and set a “buy” rating on the stock in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $ 148.52.
Shares of NKE opened at $ 110.50 on Tuesday. The company has a quick ratio of 2.18, a current ratio of 3.06 and a debt-to-equity ratio of 0.64. NIKE, Inc. has a 12-month low of $ 103.46 and a 12-month high of $ 179.10. The firm has a market capitalization of $ 173.90 billion, a PE ratio of 29.16, a price-to-earnings-growth ratio of 1.95 and a beta of 0.96. The stock’s fifty day simple moving average is $ 116.38 and its 200-day simple moving average is $ 133.76.
NIKE (NYSE: NKE – Get Rating) last issued its quarterly earnings results on Monday, June 27th. The footwear maker reported $ 0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.81 by $ 0.09. NIKE had a return on equity of 43.04% and a net margin of 13.06%. The business had revenue of $ 12.20 billion for the quarter, compared to analyst estimates of $ 12.10 billion. During the same quarter in the prior year, the firm posted $ 0.93 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 3.68 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Monday, June 6th will be paid a dividend of $ 0.305 per share. This represents a $ 1.22 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Friday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 32.19%.
In related news, COO Andrew Campion sold 14,203 shares of the company stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $ 120.61, for a total value of $ 1,713,023.83. Following the completion of the sale, the chief operating officer now owns 73,795 shares in the company, valued at $ 8,900,414.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Friend sold 9,032 shares of the company stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $ 110.52, for a total value of $ 998,216.64. Following the completion of the sale, the chief financial officer now owns 51,581 shares of the company stock, valued at approximately $ 5,700,732.12. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company stock.
NIKE Profile: (Get Rating)
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.
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