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

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in NIKE, Inc. (NYSE:NKE) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 and other institutional investors also recently bought and sold shares of the company. Range Financial Group LLC acquired a new position in shares of NIKE in the 4th quarter valued at $642,000. Cacti Asset Management LLC acquired a new position in NIKE in the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd purchased a new position in shares of NIKE during the fourth quarter worth about $5,384,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of NIKE by 31.1% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after purchasing an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its position in shares of NIKE by 5,745.9% in the 4th quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after purchasing an additional 8,504 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. Robert W. Baird cut 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. Evercore ISI cut their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a research note on Thursday. Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Finally, Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.77.

NIKE Stock Performance

Shares of NKE stock opened at $71.75 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market cap of $106.13 billion, a PE ratio of 22.15, a P/E/G ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The stock has a fifty day moving average price of $75.45 and a 200 day moving average price of $78.10.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the firm earned $1.03 EPS. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

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.