NIKE, Inc. (NYSE:NKE) Shares Bought by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 37.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,513 shares of the footwear maker’s stock after buying an additional 22,084 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in NIKE were worth $6,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Heritage Wealth Management Inc. CA increased its stake in shares of NIKE by 807.4% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 4,283 shares of the footwear maker’s stock worth $324,000 after purchasing an additional 3,811 shares in the last quarter. Ashton Thomas Securities LLC boosted its holdings in NIKE by 18.5% in the 4th quarter. Ashton Thomas Securities LLC now owns 5,131 shares of the footwear maker’s stock worth $388,000 after buying an additional 800 shares during the last quarter. Modern Wealth Management LLC boosted its stake in shares of NIKE by 7.4% in the fourth quarter. Modern Wealth Management LLC now owns 25,909 shares of the footwear maker’s stock worth $1,838,000 after acquiring an additional 1,794 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of NIKE during the fourth quarter worth approximately $509,000. Finally, Barnett & Company Inc. acquired a new position in NIKE in the 4th quarter valued at $207,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Guggenheim reaffirmed a “buy” rating and set a $110.00 target price on shares of NIKE in a research note on Wednesday, February 12th. Robert W. Baird cut their price objective on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and cut their price target for the company from $102.00 to $72.00 in a report on Friday, February 7th. Finally, Stifel Nicolaus lowered their price objective on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Trading Down 1.1 %

NKE opened at $66.64 on Wednesday. The business has a fifty day moving average price of $74.52 and a 200 day moving average price of $77.21. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a 12 month low of $65.17 and a 12 month high of $98.04. The stock has a market capitalization of $98.57 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 2.52 and a beta of 1.02.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.40%. NIKE’s payout ratio is 53.16%.

NIKE 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.