Nomura Asset Management Co. Ltd. Increases Stake in NIKE, Inc. $NKE

Nomura Asset Management Co. Ltd. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 731,159 shares of the footwear maker’s stock after buying an additional 107,282 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in NIKE were worth $46,582,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Guerra Advisors Inc purchased a new position in NIKE during the 3rd quarter worth $34,000. Gordian Capital Singapore Pte Ltd purchased a new position in NIKE during the 3rd quarter worth $35,000. Accredited Wealth Management LLC raised its position in NIKE by 268.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after buying an additional 376 shares during the last quarter. Matrix Trust Co raised its position in NIKE by 43.6% during the 4th quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock worth $38,000 after buying an additional 181 shares during the last quarter. Finally, Ares Financial Consulting LLC purchased a new position in NIKE during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on NKE. Royal Bank Of Canada restated a “buy” rating on shares of NIKE in a research report on Wednesday, April 1st. Evercore cut their price target on shares of NIKE from $69.00 to $57.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Piper Sandler reiterated a “neutral” rating and issued a $50.00 price target (down from $60.00) on shares of NIKE in a report on Friday, April 10th. DA Davidson downgraded shares of NIKE from a “buy” rating to a “neutral” rating and cut their price target for the company from $72.00 to $46.00 in a report on Thursday, April 2nd. Finally, Truist Financial cut their price target on shares of NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.04.

Insider Buying and Selling at NIKE

In other NIKE news, CEO Elliott Hill acquired 23,660 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were purchased at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the purchase, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was acquired at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the purchase, the director owned 41,022 shares in the company, valued at $1,777,893.48. The trade was a 10.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 64,441 shares of company stock valued at $2,734,204 in the last quarter. Insiders own 0.80% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $46.21 on Monday. The company has a 50-day simple moving average of $45.75 and a 200-day simple moving average of $56.73. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $68.42 billion, a PE ratio of 30.60, a P/E/G ratio of 2.45 and a beta of 1.12. NIKE, Inc. has a 52-week low of $41.35 and a 52-week high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. Equities research analysts predict that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).