Rakuten Securities Inc. Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Rakuten Securities Inc. raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 7.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,372 shares of the footwear maker’s stock after buying an additional 550 shares during the quarter. Rakuten Securities Inc.’s holdings in NIKE were worth $531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Heck Capital Advisors LLC purchased a new stake in NIKE during the 4th quarter valued at about $28,000. LFA Lugano Financial Advisors SA lifted its position in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after buying an additional 210 shares in the last quarter. Hopwood Financial Services Inc. acquired a new position in NIKE during the fourth quarter worth $30,000. EnRich Financial Partners LLC grew its holdings in NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after buying an additional 273 shares in the last quarter. Finally, BankPlus Trust Department purchased a new stake in NIKE in the 4th quarter valued at $34,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE NKE opened at $61.90 on Tuesday. 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 $91.55 billion, a P/E ratio of 19.10, a P/E/G ratio of 2.52 and a beta of 1.21. The stock has a 50-day moving average of $59.56 and a two-hundred day moving average of $68.48. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $98.04.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the business posted $0.98 earnings per share. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.58%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the purchase, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several analyst reports. Williams Trading reduced their price target on NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Morgan Stanley cut their price objective on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Cfra Research raised shares of NIKE to a “moderate buy” rating in a research note on Friday, March 21st. Telsey Advisory Group dropped their price target on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating for the company in a research note on Tuesday, May 6th. Finally, Piper Sandler cut their price target on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.26.

NIKE Profile

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.