Sumitomo Mitsui DS Asset Management Company Ltd Has $28.23 Million Holdings in NIKE, Inc. $NKE

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in NIKE, Inc. (NYSE:NKE) by 4.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Spire Wealth Management raised its holdings in shares of NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after purchasing an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after purchasing an additional 5,601 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of NIKE by 75.1% in the fourth quarter. Mackenzie Financial Corp now owns 539,650 shares of the footwear maker’s stock valued at $40,835,000 after buying an additional 231,417 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of NIKE in the first quarter valued at $25,963,000. Finally, Olstein Capital Management L.P. grew its stake in shares of NIKE by 42.2% in the first quarter. Olstein Capital Management L.P. now owns 91,000 shares of the footwear maker’s stock valued at $5,777,000 after buying an additional 27,000 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Down 0.6%

NKE stock opened at $72.30 on Thursday. The company has a market cap of $106.78 billion, a PE ratio of 33.47, a price-to-earnings-growth ratio of 2.64 and a beta of 1.24. The business has a 50-day simple moving average of $75.27 and a 200 day simple moving average of $67.66. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. 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) last issued its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The firm had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%.The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.99 earnings per share. Sell-side analysts anticipate 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 paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s payout ratio is presently 74.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NKE shares. Morgan Stanley raised their target price on shares of NIKE from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, June 27th. Piper Sandler raised their target price on shares of NIKE from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $77.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, June 20th. Citigroup lifted their price objective on shares of NIKE from $68.00 to $74.00 and gave the stock a “neutral” rating in a research report on Tuesday. Finally, DZ Bank cut shares of NIKE from a “buy” rating to a “hold” rating and set a $76.00 price objective for the company. in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.89.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.80% of the company’s stock.

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.