Resona Asset Management Co. Ltd. Boosts Holdings in NIKE, Inc. (NYSE:NKE)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in NIKE, Inc. by 6.1% in the first quarter, owning a total of 420,705 shares valued at approximately $26.7 million.
• Institutional investors collectively own 64.25% of NIKE's stock, with Vanguard Group and Goldman Sachs showing significant increases in their stakes during the same period.
• NIKE recently announced a quarterly dividend of $0.40 per share, marking a 2.1% dividend yield and a payout ratio of 74.07%.

Resona Asset Management Co. Ltd. boosted its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 420,705 shares of the footwear maker's stock after acquiring an additional 24,279 shares during the period. Resona Asset Management Co. Ltd.'s holdings in NIKE were worth $26,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Capital World Investors increased its stake in 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. Bank of New York Mellon Corp increased its stake in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after purchasing an additional 620,214 shares in the last quarter. Finally, Northern Trust Corp increased its stake in NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after purchasing an additional 1,183,641 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the topic of a number of research reports. UBS Group started coverage on shares of NIKE in a research note on Sunday, July 6th. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a report on Friday, June 20th. JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $64.00 to $93.00 in a report on Monday, July 28th. Piper Sandler raised their target price on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Finally, Barclays raised their target price on shares of NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average target price of $78.22.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.80% of the company's stock.

NIKE Stock Up 1.2%

Shares of NYSE NKE opened at $74.91 on Wednesday. The company's 50-day simple moving average is $70.20 and its 200-day simple moving average is $67.60. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The firm has a market cap of $110.63 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.69 and a beta of 1.27. 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 announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter last year, the business earned $0.99 earnings per share. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) 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.

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