Daiwa Securities Group Inc. Sells 28,165 Shares of NIKE, Inc. (NYSE:NKE)

Daiwa Securities Group Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 10.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,328 shares of the footwear maker’s stock after selling 28,165 shares during the quarter. Daiwa Securities Group Inc.’s holdings in NIKE were worth $21,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NKE. Legal & General Group Plc grew its holdings in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in NIKE by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock valued at $760,716,000 after buying an additional 117,187 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in NIKE by 19.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock worth $637,352,000 after acquiring an additional 1,184,252 shares during the last quarter. Van ECK Associates Corp increased its position in shares of NIKE by 15.1% in the third quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock valued at $431,893,000 after acquiring an additional 641,398 shares during the period. Finally, Swiss National Bank raised its stake in shares of NIKE by 0.3% during the third quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock valued at $317,869,000 after acquiring an additional 9,000 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Up 3.1 %

Shares of NYSE NKE opened at $77.40 on Monday. The firm’s 50 day moving average price is $80.51 and its 200-day moving average price is $82.52. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market cap of $116.05 billion, a PE ratio of 22.18, a P/E/G ratio of 1.88 and a beta of 1.03.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. On average, equities research analysts expect that NIKE, Inc. will post 2.75 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.07%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Analyst Ratings Changes

NKE has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Sanford C. Bernstein dropped their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. TD Cowen reduced their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research report on Monday, November 18th. Finally, Telsey Advisory Group decreased their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $95.86.

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.