Asset Management One Co. Ltd. Buys 6,676 Shares of NIKE, Inc. $NKE

Asset Management One Co. Ltd. raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 647,289 shares of the footwear maker’s stock after purchasing an additional 6,676 shares during the period. Asset Management One Co. Ltd.’s holdings in NIKE were worth $45,983,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NKE. Mascoma Wealth Management LLC bought a new position in shares of NIKE in the second quarter worth about $26,000. Stone House Investment Management LLC bought a new position in shares of NIKE in the first quarter worth about $25,000. Halbert Hargrove Global Advisors LLC boosted its stake in shares of NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 362 shares during the period. Matrix Trust Co boosted its stake in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the period. Finally, Saudi Central Bank bought a new position in shares of NIKE in the first quarter worth about $30,000. Institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.8%

Shares of NKE stock opened at $69.15 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock’s 50 day simple moving average is $72.38 and its two-hundred day simple moving average is $67.78. The company has a market cap of $102.22 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 2.57 and a beta of 1.29.

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

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s dividend payout ratio is 82.05%.

Insider Buying and Selling

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Mark G. Parker sold 86,078 shares of the company’s 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 sale, the chairman owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent analyst reports. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $75.00 target price on shares of NIKE in a research report on Wednesday, October 1st. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Barclays set a $70.00 target price on NIKE and gave the stock a “positive” rating in a research report on Wednesday, October 1st. Finally, Piper Sandler set a $84.00 target price on NIKE and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.21.

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.