Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Holdings in NIKE, Inc. $NKE

Key Points

• Sumitomo Mitsui DS Asset Management has increased its holdings in NIKE by 4.5%, now owning 397,322 shares valued at approximately $28.23 million.
• NIKE's recent earnings report showed $0.14 EPS, surpassing the expected $0.12, though its revenue decreased by 11.9% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, reflecting a yield of 2.2% and a payout ratio of 74.07%.

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 4.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 397,322 shares of the footwear maker's stock after purchasing an additional 16,966 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in NIKE were worth $28,226,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC increased its position in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG raised its stake in NIKE by 10.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after buying an additional 17,888 shares during the period. Westwood Holdings Group Inc. bought a new position in shares of NIKE in the fourth quarter valued at approximately $328,000. Vident Advisory LLC raised its position in shares of NIKE by 13.8% in the fourth quarter. Vident Advisory LLC now owns 53,572 shares of the footwear maker's stock worth $4,054,000 after buying an additional 6,477 shares in the last quarter. Finally, Waverly Advisors LLC grew its stake in shares of NIKE by 53.3% during the fourth quarter. Waverly Advisors LLC now owns 19,591 shares of the footwear maker's stock valued at $1,482,000 after buying an additional 6,810 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

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 completion of the transaction, the chairman owned 744,988 shares of the company's stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.80% of the company's stock.

NIKE Trading Up 1.7%

NYSE NKE traded up $1.22 during trading hours on Monday, hitting $72.11. 6,284,261 shares of the company's stock were exchanged, compared to its average volume of 16,122,193. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a 50-day simple moving average of $75.19 and a 200 day simple moving average of $67.43. The firm has a market cap of $106.50 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.57 and a beta of 1.24.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Tuesday, September 2nd. NIKE's payout ratio is 74.07%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. TD Cowen raised shares of NIKE from a "hold" rating to a "buy" rating and increased their target price for the company from $62.00 to $85.00 in a research report on Wednesday, September 10th. The Goldman Sachs Group lifted their price objective on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a report on Friday, June 27th. Robert W. Baird lifted their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Finally, Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $79.04.

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.