Sumitomo Mitsui DS Asset Management Company Ltd Acquires 12,814 Shares of NIKE, Inc. (NYSE:NKE)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 380,356 shares of the footwear maker's stock after acquiring an additional 12,814 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in NIKE were worth $24,145,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after purchasing an additional 347,178 shares in the last quarter. Capital World Investors raised its holdings in shares of NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter valued at $1,126,288,000. Finally, Northern Trust Corp boosted its holdings in NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after purchasing an additional 1,183,641 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 target price on shares of NIKE in a research report on Friday. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. China Renaissance started coverage on shares of NIKE in a research note on Wednesday, March 19th. They set a "hold" rating for the company. Dbs Bank upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Finally, BMO Capital Markets reduced their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.19.

NIKE Trading Up 3.3%

NKE stock traded up $2.34 on Tuesday, reaching $73.38. The company's stock had a trading volume of 27,492,625 shares, compared to its average volume of 15,460,596. The firm has a market cap of $108.54 billion, a PE ratio of 33.97, a PEG ratio of 2.73 and a beta of 1.21. The business has a fifty day simple moving average of $60.93 and a two-hundred day simple moving average of $67.40. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. 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 (NYSE:NKE - Get Free Report) last issued its quarterly 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. The company had revenue of $11.10 billion during the quarter, compared to analysts' expectations of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE's revenue was down 11.9% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. As a group, research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. NIKE's dividend payout ratio is presently 53.16%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director directly owned 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by insiders.

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.