Sumitomo Mitsui DS Asset Management Company Ltd Lowers Stock Holdings in NIKE, Inc. (NYSE:NKE)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.1% during the fourth quarter, HoldingsChannel reports. The firm owned 367,542 shares of the footwear maker’s stock after selling 11,696 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in NIKE were worth $27,812,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the 3rd quarter worth about $30,000. Caitlin John LLC boosted its position in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $28,000. VitalStone Financial LLC grew its holdings in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Finally, Dunhill Financial LLC increased its position in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after purchasing an additional 169 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The stock was purchased 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 directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Trading Down 3.8 %

NYSE NKE opened at $71.75 on Friday. The company’s fifty day moving average price is $75.45 and its two-hundred day moving average price is $78.10. The company has a market capitalization of $106.13 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.23%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research note on Thursday. JPMorgan Chase & Co. lowered their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Bank of America cut their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. TD Cowen decreased their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a report on Monday, November 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a report on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.77.

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.