Tokio Marine Asset Management Co. Ltd. lessened its position in shares of Nike (NYSE:NKE) by 2.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,499 shares of the footwear maker’s stock after selling 4,089 shares during the quarter. Nike makes up 2.0% of Tokio Marine Asset Management Co. Ltd.’s holdings, making the stock its 11th biggest position. Tokio Marine Asset Management Co. Ltd.’s holdings in Nike were worth $11,328,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in NKE. Field & Main Bank acquired a new stake in shares of Nike in the fourth quarter valued at about $100,000. Wagner Wealth Management LLC acquired a new stake in shares of Nike in the fourth quarter valued at about $103,000. G&S Capital LLC acquired a new stake in shares of Nike in the fourth quarter valued at about $112,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Nike in the fourth quarter valued at about $116,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Nike in the fourth quarter valued at about $128,000. Institutional investors own 65.76% of the company’s stock.
Shares of Nike traded up $0.18, reaching $71.12, on Friday, Marketbeat Ratings reports. The company had a trading volume of 130,276 shares, compared to its average volume of 7,566,197. The company has a market capitalization of $116.07 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 3.42 and a beta of 0.64. Nike has a 52-week low of $69.62 and a 52-week high of $71.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.73 and a current ratio of 2.66.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 5th. Investors of record on Monday, June 4th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, June 1st. Nike’s dividend payout ratio (DPR) is currently 31.87%.
Several brokerages have recently issued reports on NKE. Buckingham Research lifted their target price on shares of Nike from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. HSBC upgraded shares of Nike from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research report on Friday, April 27th. Canaccord Genuity restated a “hold” rating and set a $62.00 price target (up from $60.00) on shares of Nike in a research report on Sunday, March 25th. Wedbush restated an “outperform” rating and set a $74.00 price target (down from $75.00) on shares of Nike in a research report on Friday, March 23rd. Finally, Cowen set a $68.00 price target on shares of Nike and gave the stock a “hold” rating in a research report on Sunday, March 25th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $69.30.
In related news, Chairman Mark G. Parker sold 135,000 shares of Nike stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares in the company, valued at $114,641,520. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of Nike stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $70.00, for a total transaction of $3,500,000.00. Following the completion of the transaction, the insider now owns 191,959 shares of the company’s stock, valued at approximately $13,437,130. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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