Tokio Marine Asset Management Co. Ltd. raised its position in shares of Nike Inc. (NYSE:NKE) by 11.1% during the second quarter, Holdings Channel reports. The institutional investor owned 220,355 shares of the footwear maker’s stock after buying an additional 21,982 shares during the period. Nike accounts for about 1.3% of Tokio Marine Asset Management Co. Ltd.’s holdings, making the stock its 18th largest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Nike were worth $12,164,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capstone Asset Management Co. raised its position in Nike by 8.3% in the second quarter. Capstone Asset Management Co. now owns 384,426 shares of the footwear maker’s stock worth $21,220,000 after buying an additional 29,538 shares during the period. Dividend Assets Capital LLC raised its position in Nike by 2.6% in the second quarter. Dividend Assets Capital LLC now owns 1,712,644 shares of the footwear maker’s stock worth $94,538,000 after buying an additional 43,935 shares during the period. National Pension Service increased its stake in Nike by 4.1% in the first quarter. National Pension Service now owns 709,270 shares of the footwear maker’s stock worth $43,599,000 after buying an additional 27,918 shares in the last quarter. Gofen & Glossberg LLC IL increased its stake in Nike by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 304,456 shares of the footwear maker’s stock worth $16,806,000 after buying an additional 2,890 shares in the last quarter. Finally, AMP Capital Investors Ltd bought a new stake in Nike during the first quarter worth about $37,460,000. Institutional investors and hedge funds own 62.04% of the company’s stock.
Nike Inc. (NYSE:NKE) traded down 1.01% during trading on Tuesday, reaching $52.14. 10,737,412 shares of the company traded hands. The firm has a 50-day moving average price of $56.27 and a 200-day moving average price of $56.98. The company has a market capitalization of $87.18 billion, a P/E ratio of 23.53 and a beta of 0.56. Nike Inc. has a 52 week low of $51.48 and a 52 week high of $68.19.
Nike (NYSE:NKE) last announced its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The business earned $9.06 billion during the quarter. During the same quarter in the previous year, the firm posted $1.34 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. Analysts forecast that Nike Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.23%. The ex-dividend date was Thursday, September 1st. Nike’s payout ratio is 28.83%.
A number of analysts have recently issued reports on NKE shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $75.00 price objective on shares of Nike in a report on Sunday, September 25th. Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a report on Friday, September 16th. Morgan Stanley reaffirmed a “hold” rating and set a $60.00 price objective on shares of Nike in a report on Wednesday, September 21st. Cowen and Company set a $63.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, September 13th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Nike in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $64.54.
In other Nike news, Director John C. Lechleiter acquired 1,000 shares of the firm’s stock in a transaction on Friday, September 30th. The stock was acquired at an average cost of $52.72 per share, for a total transaction of $52,720.00. Following the purchase, the director now owns 27,560 shares in the company, valued at approximately $1,452,963.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $56.99, for a total transaction of $5,699,000.00. Following the sale, the executive vice president now owns 310,795 shares of the company’s stock, valued at $17,712,207.05. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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