Resona Asset Management Co. Ltd. Increases Stock Holdings in NIKE, Inc. $NKE

Resona Asset Management Co. Ltd. boosted its stake in NIKE, Inc. (NYSE:NKE) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 428,120 shares of the footwear maker’s stock after acquiring an additional 7,415 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in NIKE were worth $30,473,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of NKE. Goldman Sachs Group Inc. boosted its stake in shares of NIKE by 344.2% in the first 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 during the period. Wellington Management Group LLP increased its stake in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after buying an additional 9,043,180 shares during the period. Jennison Associates LLC acquired a new position in NIKE in the 1st quarter worth $509,051,000. Nuveen LLC acquired a new position in NIKE in the 1st quarter worth $502,285,000. Finally, Vanguard Group Inc. boosted its position in NIKE by 4.6% in 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 buying an additional 4,957,494 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares of the company’s stock, valued at $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE 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 approximately $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

NKE stock opened at $61.89 on Friday. The stock’s 50 day simple moving average is $69.97 and its 200 day simple moving average is $68.41. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The firm has a market cap of $91.48 billion, a P/E ratio of 31.74, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

Analysts Set New Price Targets

NKE has been the topic of a number of analyst reports. Barclays set a $70.00 target price on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. lifted their price objective on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. TD Cowen upgraded 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 note on Wednesday, September 10th. Weiss Ratings raised shares of NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Stifel Nicolaus set a $68.00 price target on shares of NIKE and gave the stock a “hold” rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE 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.