Norinchukin Bank The Decreases Position in NIKE, Inc. (NYSE:NKE)

Norinchukin Bank The decreased its holdings in NIKE, Inc. (NYSE:NKE) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 253,534 shares of the footwear maker’s stock after selling 3,446 shares during the period. Norinchukin Bank The’s holdings in NIKE were worth $19,185,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of NKE. Norges Bank acquired a new position in NIKE during the 4th quarter worth $1,126,288,000. Wellington Management Group LLP boosted its stake in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the period. Pacer Advisors Inc. grew its position in shares of NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after buying an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after buying an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in NIKE by 1,302.7% in the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock valued at $196,901,000 after acquiring an additional 2,416,601 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent analyst reports. Cfra Research raised shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. Morgan Stanley dropped their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Royal Bank of Canada decreased their price target on NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a report on Friday, March 21st. China Renaissance started coverage on NIKE in a report on Wednesday, March 19th. They issued a “hold” rating on the stock. Finally, DA Davidson raised NIKE to a “strong-buy” rating in a research report on Monday, December 23rd. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.15.

Insiders Place Their Bets

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $55.73 on Friday. The stock has a fifty day moving average price of $68.39 and a 200 day moving average price of $73.85. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market cap of $82.44 billion, a PE ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter last year, the business earned $0.98 EPS. The business’s revenue was down 9.1% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio is presently 53.16%.

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.