Sumitomo Mitsui Trust Group Inc. Has $215.67 Million Holdings in NIKE, Inc. $NKE

Sumitomo Mitsui Trust Group Inc. increased its position in shares of NIKE, Inc. (NYSE:NKE) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,035,909 shares of the footwear maker’s stock after acquiring an additional 23,746 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in NIKE were worth $215,671,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after buying an additional 160,980 shares during the period. GAMMA Investing LLC increased its stake in NIKE by 39.1% in the 1st quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock valued at $1,325,000 after buying an additional 5,863 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in NIKE by 9.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 122,092 shares of the footwear maker’s stock valued at $7,750,000 after buying an additional 10,823 shares during the period. Spire Wealth Management increased its stake in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the period. Finally, Golden State Wealth Management LLC increased its stake in NIKE by 143.6% in the 1st quarter. Golden State Wealth Management LLC now owns 6,321 shares of the footwear maker’s stock valued at $402,000 after buying an additional 3,726 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

NKE has been the topic of several research reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of NIKE in a research note on Friday, October 10th. Truist Financial reiterated a “buy” rating and issued a $85.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Hsbc Global Res raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Finally, Argus raised shares of NIKE to a “buy” rating in a research report on Sunday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Price Performance

NYSE NKE opened at $69.15 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $72.38 and a 200 day simple moving average of $67.78. The company has a market cap of $102.22 billion, a P/E ratio of 35.46, a P/E/G ratio of 2.57 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44.

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

NIKE Announces Dividend

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

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.