Dai ichi Life Insurance Company Ltd Has $3.56 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Dai ichi Life Insurance Company Ltd lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 42.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,313 shares of the footwear maker’s stock after selling 30,127 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in NIKE were worth $3,564,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. ING Groep NV bought a new stake in shares of NIKE during the third quarter worth about $29,628,000. Cordatus Wealth Management LLC increased its position in shares of NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares in the last quarter. Bristlecone Advisors LLC increased its position in shares of NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares in the last quarter. WoodTrust Financial Corp increased its position in shares of NIKE by 19.9% during the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after acquiring an additional 16,303 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after acquiring an additional 117,187 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $77.61 on Wednesday. The firm has a market cap of $116.37 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.92 and a beta of 1.03. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $80.44 and its two-hundred day simple moving average is $82.32.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the company posted $0.94 EPS. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.06%. This is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

Analysts Set New Price Targets

NKE has been the subject of several recent research reports. Stifel Nicolaus decreased their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Telsey Advisory Group reduced their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Guggenheim reduced their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Evercore ISI reduced their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $95.86.

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.