NIKE, Inc. (NYSE:NKE) Stake Increased by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in NIKE, Inc. (NYSE:NKE) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,899 shares of the footwear maker’s stock after acquiring an additional 426 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in NIKE were worth $446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Harfst & Associates Inc. increased its stake in shares of NIKE by 0.8% in the fourth quarter. Harfst & Associates Inc. now owns 25,281 shares of the footwear maker’s stock worth $1,913,000 after acquiring an additional 189 shares during the last quarter. Nwam LLC increased its stake in shares of NIKE by 2.9% in the fourth quarter. Nwam LLC now owns 6,318 shares of the footwear maker’s stock worth $478,000 after acquiring an additional 176 shares during the last quarter. Cable Hill Partners LLC increased its stake in shares of NIKE by 22.2% in the fourth quarter. Cable Hill Partners LLC now owns 41,230 shares of the footwear maker’s stock worth $3,136,000 after acquiring an additional 7,479 shares during the last quarter. Heritage Investors Management Corp increased its stake in shares of NIKE by 1.1% in the fourth quarter. Heritage Investors Management Corp now owns 356,087 shares of the footwear maker’s stock worth $26,945,000 after acquiring an additional 3,888 shares during the last quarter. Finally, SRN Advisors LLC acquired a new position in shares of NIKE in the fourth quarter worth $787,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 0.7 %

Shares of NKE opened at $81.17 on Thursday. The stock has a market cap of $120.06 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 2.52 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $105.57. The company has a 50-day moving average price of $74.54 and a two-hundred day moving average price of $78.28.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 earnings per share. Equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on NKE shares. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $72.00 to $90.00 in a research note on Friday, January 10th. Robert W. Baird lowered their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Barclays lowered their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Morgan Stanley lowered their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $75.00 to $115.00 in a research report on Monday. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $89.77.

Insider Transactions at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

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.