Sompo Asset Management Co. Ltd. Sells 680 Shares of NIKE, Inc. (NYSE:NKE)

Sompo Asset Management Co. Ltd. decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,415 shares of the footwear maker’s stock after selling 680 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in NIKE were worth $4,177,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. 9258 Wealth Management LLC boosted its position in NIKE by 23.9% in the fourth quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after purchasing an additional 842 shares during the last quarter. Gryphon Financial Partners LLC increased its holdings in NIKE by 34.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after buying an additional 2,981 shares during the last quarter. TrinityPoint Wealth LLC boosted its stake in shares of NIKE by 0.8% during the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after acquiring an additional 166 shares during the last quarter. GW&K Investment Management LLC grew its position in shares of NIKE by 26.4% during the 4th quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock valued at $66,000 after acquiring an additional 126 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of NIKE by 6.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after purchasing an additional 7,769 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NKE stock opened at $86.55 on Friday. The company has a market cap of $130.64 billion, a P/E ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock’s 50-day moving average is $78.11 and its 200 day moving average is $87.14. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the business posted $0.66 EPS. NIKE’s revenue was down 1.6% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.71%. NIKE’s dividend payout ratio (DPR) is 39.68%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NKE. Sanford C. Bernstein lowered their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday. Guggenheim cut their price target on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Wedbush cut their target price on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Oppenheimer restated an “outperform” rating and issued a $120.00 target price on shares of NIKE in a report on Friday, June 28th. Finally, Jefferies Financial Group decreased their target price on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.15.

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.