Nissay Asset Management Corp Japan ADV Sells 41,289 Shares of NIKE, Inc. $NKE

Key Points

• Nissay Asset Management Corp Japan ADV reduced its holdings in NIKE, Inc. by 17.0%, selling 41,289 shares and leaving it with 202,252 shares worth approximately $12.83 million.
• Analysts have a consensus rating of "Moderate Buy" on NIKE, with an average price target of $78.22, following several upward adjustments in price targets from various investment firms.
• NIKE announced a quarterly dividend of $0.40 per share, reflecting a 2.2% dividend yield, scheduled for payment on October 1st to stockholders of record.

Nissay Asset Management Corp Japan ADV decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 17.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,252 shares of the footwear maker's stock after selling 41,289 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in NIKE were worth $12,839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Spire Wealth Management grew its stake in shares of NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after buying an additional 416 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of NIKE by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock valued at $460,160,000 after buying an additional 463,470 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after purchasing an additional 5,601 shares during the period. OMERS ADMINISTRATION Corp raised its holdings in NIKE by 20.2% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 52,370 shares of the footwear maker's stock worth $3,963,000 after purchasing an additional 8,792 shares during the period. Finally, Mackenzie Financial Corp increased its stake in NIKE by 75.1% in the 4th quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker's stock worth $40,835,000 after buying an additional 231,417 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction 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 represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NKE. Wells Fargo & Company lifted their price target on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. UBS Group assumed coverage on NIKE in a research report on Sunday, July 6th. They set a "buy" rating on the stock. Argus upgraded shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $115.00 target price on shares of NIKE in a report on Friday, August 22nd. Finally, Cowen raised shares of NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday. Three analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, NIKE has an average rating of "Moderate Buy" and an average price target of $78.67.

NIKE Stock Up 0.3%

Shares of NKE stock traded up $0.22 during trading on Thursday, reaching $74.47. The company's stock had a trading volume of 4,252,301 shares, compared to its average volume of 16,183,030. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The company has a market cap of $109.98 billion, a price-to-earnings ratio of 34.45, a price-to-earnings-growth ratio of 2.67 and a beta of 1.24. The business has a fifty day moving average price of $75.50 and a 200-day moving average price of $67.91. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.1%. NIKE's payout ratio is currently 74.07%.

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.