Asset Management One Co. Ltd. cut its position in Nike, Inc. (NYSE:NKE) by 6.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,128,519 shares of the footwear maker’s stock after selling 136,277 shares during the period. Asset Management One Co. Ltd. owned 0.13% of Nike worth $118,661,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Forte Capital LLC ADV raised its stake in shares of Nike by 10.3% in the first quarter. Forte Capital LLC ADV now owns 59,686 shares of the footwear maker’s stock worth $3,326,000 after buying an additional 5,551 shares during the last quarter. Stock Yards Bank & Trust Co. raised its stake in shares of Nike by 1.1% in the first quarter. Stock Yards Bank & Trust Co. now owns 244,745 shares of the footwear maker’s stock worth $13,639,000 after buying an additional 2,620 shares during the last quarter. Gillespie Robinson & Grimm Inc. raised its stake in shares of Nike by 2.3% in the first quarter. Gillespie Robinson & Grimm Inc. now owns 379,866 shares of the footwear maker’s stock worth $21,170,000 after buying an additional 8,435 shares during the last quarter. Vista Capital Partners Inc. increased its position in Nike by 5.6% in the first quarter. Vista Capital Partners Inc. now owns 12,282 shares of the footwear maker’s stock worth $684,000 after buying an additional 650 shares during the period. Finally, Burke & Herbert Bank & Trust Co. purchased a new position in Nike during the first quarter worth about $220,000. 63.47% of the stock is owned by institutional investors.
Nike, Inc. (NYSE:NKE) opened at 54.95 on Friday. The company has a 50-day moving average price of $58.64 and a 200 day moving average price of $55.77. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The firm has a market cap of $90.29 billion, a PE ratio of 21.89 and a beta of 0.59. Nike also saw some unusual options trading activity on Wednesday. Investors bought 14,365 call options on the stock. This represents an increase of approximately 228% compared to the average volume of 4,379 call options.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a yield of 1.31%. Nike’s dividend payout ratio (DPR) is 28.69%.
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NKE has been the subject of a number of research reports. Nomura reiterated a “buy” rating and issued a $60.00 price objective on shares of Nike in a report on Friday, June 30th. J P Morgan Chase & Co downgraded Nike from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $61.00 to $58.00 in a report on Friday, June 16th. Telsey Advisory Group reduced their price target on Nike from $66.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, June 22nd. Cowen and Company raised their price target on Nike from $53.00 to $54.00 and gave the company a “market perform” rating in a report on Friday, June 30th. Finally, Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $55.06 price target for the company in a report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have assigned a buy rating to the stock. Nike currently has a consensus rating of “Buy” and a consensus price target of $61.04.
In other news, insider Eric D. Sprunk sold 112,323 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.61, for a total transaction of $6,583,251.03. Following the transaction, the insider now owns 139,551 shares in the company, valued at approximately $8,179,084.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the transaction, the chief financial officer now owns 50,246 shares in the company, valued at approximately $2,847,943.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is currently owned by company insiders.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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