Tokio Marine Asset Management Co. Ltd. reduced its position in shares of Nike Inc (NYSE:NKE) by 3.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 193,361 shares of the footwear maker’s stock after selling 5,973 shares during the quarter. Nike accounts for approximately 1.5% of Tokio Marine Asset Management Co. Ltd.’s holdings, making the stock its 10th biggest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Nike were worth $10,026,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Asset Planning Services Ltd. lifted its position in shares of Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after buying an additional 7 shares in the last quarter. Atlantic Trust LLC purchased a new position in Nike in the 2nd quarter worth approximately $136,000. Howe & Rusling Inc. lifted its holdings in Nike by 751.3% in the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares in the last quarter. Kistler Tiffany Companies LLC lifted its holdings in Nike by 91.7% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Nike by 7.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,780 shares of the footwear maker’s stock worth $164,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 62.67% of the company’s stock.
Nike Inc (NYSE:NKE) traded up $0.07 during trading on Thursday, reaching $64.29. The company’s stock had a trading volume of 5,049,600 shares, compared to its average volume of 9,580,000. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The stock has a market capitalization of $104,890.00, a PE ratio of 27.83, a PEG ratio of 2.90 and a beta of 0.64. Nike Inc has a 52 week low of $50.35 and a 52 week high of $65.18.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 4th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. Nike’s dividend payout ratio is currently 34.63%.
In related news, insider Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the insider now directly owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total value of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares in the company, valued at $90,124,612.08. The disclosure for this sale can be found here. Insiders sold 967,896 shares of company stock worth $60,257,267 over the last three months. Corporate insiders own 3.90% of the company’s stock.
Several analysts have recently issued reports on the company. Goldman Sachs Group set a $59.00 price objective on Nike and gave the stock a “neutral” rating in a report on Thursday, December 14th. HSBC cut Nike from a “buy” rating to a “hold” rating and upped their price objective for the stock from $58.95 to $62.00 in a report on Tuesday, November 28th. Buckingham Research assumed coverage on Nike in a research report on Sunday, December 31st. They set a “buy” rating and a $72.00 target price on the stock. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, B. Riley boosted their target price on Nike from $53.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, December 22nd. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $64.39.
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NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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