Resona Asset Management Co. Ltd. Takes $30.04 Million Position in NIKE, Inc. (NYSE:NKE)

Resona Asset Management Co. Ltd. acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 396,426 shares of the footwear maker’s stock, valued at approximately $30,037,000.

A number of other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of NIKE during the 4th quarter worth about $1,126,288,000. Wellington Management Group LLP lifted its stake in NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after purchasing an additional 6,709,985 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after buying an additional 2,357,745 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 2.9 %

Shares of NYSE NKE opened at $57.17 on Friday. NIKE, Inc. has a 52-week low of $52.50 and a 52-week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business has a fifty day moving average of $72.96 and a two-hundred day moving average of $76.30. The stock has a market cap of $84.57 billion, a PE ratio of 17.65, a PEG ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s quarterly revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.80%. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analyst Ratings Changes

A number of research analysts have recently commented on NKE shares. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $102.00 to $72.00 in a report on Friday, February 7th. Evercore ISI lowered their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Royal Bank of Canada lowered their price target on NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Friday, March 21st. JPMorgan Chase & Co. cut their price objective on NIKE from $73.00 to $64.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Finally, BMO Capital Markets lowered their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $87.38.

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.