Sumitomo Life Insurance Co. cut its stake in shares of Nike Inc (NYSE:NKE) by 10.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,493 shares of the footwear maker’s stock after selling 5,937 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Nike were worth $4,420,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Next Capital Management LLC bought a new position in shares of Nike in the 4th quarter worth approximately $26,000. Gemmer Asset Management LLC raised its position in shares of Nike by 54.2% in the 4th quarter. Gemmer Asset Management LLC now owns 427 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Clarfeld Financial Advisors LLC bought a new position in shares of Nike in the 4th quarter worth approximately $34,000. Acima Private Wealth LLC bought a new position in shares of Nike in the 4th quarter worth approximately $39,000. Finally, Proffitt & Goodson Inc. bought a new position in shares of Nike in the 4th quarter worth approximately $44,000. Institutional investors own 65.62% of the company’s stock.
Several research analysts have recently issued reports on NKE shares. Bank of America set a $55.00 target price on Nike and gave the stock a “sell” rating in a research report on Sunday, December 23rd. Cowen set a $80.00 target price on Nike and gave the stock a “hold” rating in a research report on Friday, January 11th. Canaccord Genuity set a $96.00 target price on Nike and gave the stock a “buy” rating in a research report on Monday, March 18th. Morgan Stanley set a $103.00 price target on Nike and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, HSBC upgraded Nike from a “hold” rating to a “buy” rating and upped their price target for the stock from $92.00 to $95.00 in a research note on Tuesday, January 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $87.10.
Shares of NKE opened at $89.20 on Monday. The company has a current ratio of 2.17, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39. Nike Inc has a 12 month low of $64.99 and a 12 month high of $90.00. The firm has a market cap of $140.20 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 2.68 and a beta of 0.67.
Nike (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.68 EPS for the quarter, beating the consensus estimate of $0.65 by $0.03. Nike had a return on equity of 45.78% and a net margin of 10.79%. The business had revenue of $9.61 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the business posted $0.68 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts expect that Nike Inc will post 2.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, March 1st. This represents a $0.88 annualized dividend and a yield of 0.99%. Nike’s dividend payout ratio is 36.36%.
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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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