Rakuten Investment Management Inc. Has $9.63 Million Position in NIKE, Inc. $NKE

Rakuten Investment Management Inc. increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 1,622.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 157,292 shares of the footwear maker’s stock after buying an additional 148,160 shares during the quarter. Rakuten Investment Management Inc.’s holdings in NIKE were worth $9,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC bought a new stake in NIKE during the fourth quarter worth $26,000. J.Safra Asset Management Corp bought a new stake in NIKE during the fourth quarter worth $29,000. Litman Gregory Wealth Management LLC bought a new stake in NIKE during the fourth quarter worth $32,000. Gordian Capital Singapore Pte Ltd bought a new stake in NIKE during the third quarter worth $35,000. Finally, Accredited Wealth Management LLC lifted its stake in NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock worth $36,000 after purchasing an additional 376 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent analyst reports. Barclays cut their target price on NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Stifel Nicolaus dropped their price target on NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. Jefferies Financial Group dropped their price target on NIKE from $110.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Bank of America reiterated a “neutral” rating and issued a $55.00 price target (down from $73.00) on shares of NIKE in a research note on Wednesday, April 1st. Finally, Weiss Ratings cut NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 8th. Fifteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Hold” and an average price target of $60.89.

NIKE Stock Down 0.3%

Shares of NKE opened at $45.06 on Wednesday. NIKE, Inc. has a 52 week low of $41.35 and a 52 week high of $80.17. The stock has a market capitalization of $66.72 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 1.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The stock has a fifty day moving average of $44.30 and a 200-day moving average of $55.14.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.NIKE’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is currently 108.61%.

Insider Buying and Selling at NIKE

In related news, Director Timothy D. Cook bought 25,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the transaction, the director directly owned 130,480 shares in the company, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Elliott Hill bought 23,660 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 64,441 shares of company stock worth $2,734,204 over the last 90 days. Company insiders own 0.80% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).