NIKE, Inc. $NKE Stock Holdings Raised by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. raised its stake in NIKE, Inc. by 0.8%, owning 3,035,909 shares valued at approximately $215.67 million as of the latest SEC filing.
• NIKE recently announced a quarterly dividend of $0.40, confirming a 2.3% dividend yield and an annualized payout of $1.60.
• Research analysts have issued a range of ratings for NIKE, with a consensus price target of $82.21, suggesting a favorable outlook for the stock.

Sumitomo Mitsui Trust Group Inc. raised its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 0.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,035,909 shares of the footwear maker's stock after purchasing an additional 23,746 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of NIKE worth $215,671,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Spire Wealth Management grew its position in shares of NIKE by 4.4% during the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after buying an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its stake in NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock valued at $69,932,000 after purchasing an additional 5,601 shares during the period. Clal Insurance Enterprises Holdings Ltd acquired a new position in NIKE during the 1st quarter valued at about $25,963,000. BROOKFIELD Corp ON boosted its stake in NIKE by 36.2% during the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock valued at $41,808,000 after purchasing an additional 175,000 shares during the period. Finally, Cadence Bank boosted its stake in NIKE by 10.0% during the 1st quarter. Cadence Bank now owns 83,002 shares of the footwear maker's stock valued at $5,269,000 after purchasing an additional 7,574 shares during the period. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 86,078 shares of the business's 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. The trade was a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is owned by insiders.

NIKE Stock Down 0.8%

NYSE NKE opened at $69.15 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The company's 50 day simple moving average is $72.38 and its 200 day simple moving average is $67.78. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a market capitalization of $102.22 billion, a P/E ratio of 35.46, a PEG ratio of 2.57 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business's revenue for the quarter was up 1.0% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE's payout ratio is presently 82.05%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Stifel Nicolaus set a $68.00 target price on shares of NIKE and gave the company a "hold" rating in a research note on Wednesday, October 1st. Truist Financial reissued a "buy" rating and set a $85.00 target price on shares of NIKE in a research note on Wednesday, October 1st. BTIG Research assumed coverage on shares of NIKE in a research note on Tuesday, October 14th. They issued a "buy" rating and a $100.00 price target for the company. Finally, 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 note on Friday, June 27th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $82.21.

About NIKE

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.

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