Meiji Yasuda Asset Management Co Ltd. Acquires 31,848 Shares of NIKE, Inc. $NKE

Key Points

• Meiji Yasuda Asset Management Co Ltd. increased its stake in NIKE by 39.6%, acquiring an additional 31,848 shares, bringing its total holdings to 112,361 shares valued at approximately $7.13 million.
• NIKE announced a quarterly dividend of $0.40 to be paid on October 1st, representing a 2.2% dividend yield and a dividend payout ratio of 74.07%.
• The company's latest earnings report showed revenue of $11.10 billion, beating estimates of $10.69 billion, despite a 11.9% decline year-over-year.

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 39.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,361 shares of the footwear maker's stock after buying an additional 31,848 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in NIKE were worth $7,133,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of NKE. Heck Capital Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at $28,000. Stone House Investment Management LLC acquired a new stake in shares of NIKE in the 1st quarter valued at $25,000. Saudi Central Bank acquired a new stake in shares of NIKE in the 1st quarter valued at $30,000. Putney Financial Group LLC acquired a new stake in shares of NIKE in the 4th quarter valued at $40,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter valued at $42,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Trading Up 0.8%

NIKE stock traded up $0.62 during trading hours on Wednesday, reaching $74.22. 11,220,426 shares of the company's stock traded hands, compared to its average volume of 9,803,136. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The firm has a market capitalization of $109.61 billion, a price-to-earnings ratio of 34.36, a PEG ratio of 2.67 and a beta of 1.24. The firm's 50 day moving average is $75.50 and its 200-day moving average is $67.91.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the prior year, the company posted $0.99 EPS. The company's revenue was down 11.9% compared to the same quarter last year. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NKE shares. TD Cowen upgraded shares of NIKE from a "hold" rating to a "buy" rating and boosted their target price for the company from $62.00 to $85.00 in a research note on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Sanford C. Bernstein reiterated an "outperform" rating on shares of NIKE in a research report on Monday, August 18th. Bank of America upped their price target on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, June 27th. Finally, Barclays upped their price target on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $78.67.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.80% of the stock is owned by corporate insiders.

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.