Meiji Yasuda Life Insurance Co Sells 2,228 Shares of NIKE, Inc. (NYSE:NKE)

18 Sep 2024, 15:58 by Doug Wharley · The Cerbat Gem

Meiji Yasuda Life Insurance Co lowered its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 46,431 shares of the footwear maker’s stock after selling 2,228 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in NIKE were worth $3,500,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NKE. Vanguard Group Inc. increased its position in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after buying an additional 501,792 shares during the period. Capital International Investors increased its position in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD raised its stake in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in NIKE by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after purchasing an additional 211,360 shares during the period. Finally, Jennison Associates LLC grew its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NKE has been the subject of a number of analyst reports. BMO Capital Markets dropped their price target on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. UBS Group reiterated a “neutral” rating and set a $78.00 target price on shares of NIKE in a research report on Friday, June 28th. Citigroup decreased their price target on NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. Finally, Royal Bank of Canada decreased their target price on shares of NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. Fifteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average price target of $95.59.

Check Out Our Latest Analysis on NKE

NIKE Price Performance

NKE stock opened at $80.64 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a market capitalization of $121.71 billion, a P/E ratio of 21.62, a PEG ratio of 2.08 and a beta of 1.02. The company has a fifty day moving average price of $77.52 and a 200-day moving average price of $87.32.

NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the company earned $0.66 EPS. NIKE’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts expect that NIKE, Inc. will post 3.06 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan purchased 2,941 shares of the stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

NIKE Profile

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