Sumitomo Mitsui Trust Holdings Inc. Has $302.61 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,219,896 shares of the footwear maker’s stock after selling 25,578 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.21% of NIKE worth $302,606,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Annapolis Financial Services LLC increased its stake in shares of NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after acquiring an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC increased its stake in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE in the 4th quarter valued at $29,000. True Wealth Design LLC increased its stake in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at $33,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $88.00 price objective (down previously from $117.00) on shares of NIKE in a research note on Friday, June 28th. Guggenheim lowered their price objective on shares of NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. HSBC lowered their price objective on shares of NIKE from $100.00 to $90.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Oppenheimer restated an “outperform” rating and set a $120.00 price objective on shares of NIKE in a report on Friday, June 28th. Finally, Sanford C. Bernstein lowered their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Hold” and an average price target of $97.19.

NIKE Price Performance

NYSE NKE opened at $75.27 on Thursday. The company has a market cap of $113.61 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.85 and a beta of 1.01. NIKE, Inc. has a 52 week low of $74.29 and a 52 week high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm’s 50-day simple moving average is $92.58 and its two-hundred day simple moving average is $98.22.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. Research analysts predict that NIKE, Inc. will post 3.32 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman Mark G. Parker sold 168,378 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total value of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders have sold a total of 213,660 shares of company stock valued at $19,946,333 over the last three months. 0.50% of the stock is currently owned by insiders.

About NIKE

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.