NIKE, Inc. (NYSE:NKE) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 19.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,341 shares of the footwear maker’s stock after buying an additional 88,260 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in NIKE were worth $41,493,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Caitlin John LLC raised its position in 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 in the last quarter. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the 4th quarter worth $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE in the 4th quarter valued at about $30,000. LFA Lugano Financial Advisors SA lifted its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. purchased a new stake in NIKE during the fourth quarter worth about $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Performance

NYSE:NKE opened at $63.32 on Friday. The company has a market cap of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. The firm’s 50 day moving average is $74.16 and its two-hundred day moving average is $76.94. NIKE, Inc. has a fifty-two week low of $63.14 and a fifty-two week high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the company posted $0.98 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. Analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is currently 53.16%.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on NKE shares. Royal Bank of Canada dropped their target price on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a report on Friday, March 21st. Piper Sandler raised NIKE from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $90.00 in a research note on Friday, January 10th. China Renaissance initiated coverage on NIKE in a research report on Wednesday, March 19th. They set a “hold” rating on the stock. Wells Fargo & Company dropped their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, March 21st. Finally, Stifel Nicolaus decreased their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $87.38.

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.