Mizuho Securities Co. Ltd. boosted its stake in Nike Inc (NYSE:NKE) by 341.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,500 shares of the footwear maker’s stock after purchasing an additional 1,160 shares during the quarter. Mizuho Securities Co. Ltd.’s holdings in Nike were worth $126,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Joseph P. Lucia & Associates LLC purchased a new stake in Nike during the first quarter valued at approximately $25,000. Shamrock Asset Management LLC acquired a new position in Nike during the 1st quarter valued at approximately $25,000. Jackson Grant Investment Advisers Inc. acquired a new position in Nike during the 1st quarter valued at approximately $25,000. Next Capital Management LLC acquired a new position in Nike during the 4th quarter valued at approximately $26,000. Finally, Mackey Komara & Dankovich LLC acquired a new position in Nike during the 1st quarter valued at approximately $30,000. Institutional investors and hedge funds own 65.60% of the company’s stock.
Nike stock traded up $0.29 during midday trading on Friday, hitting $83.95. 12,442,400 shares of the stock were exchanged, compared to its average volume of 6,676,616. Nike Inc has a fifty-two week low of $66.53 and a fifty-two week high of $90.00. The firm has a market cap of $129.75 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.12 and a beta of 0.76. The stock’s 50-day moving average price is $82.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, May 31st. Nike’s dividend payout ratio is presently 36.36%.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Nike from a “hold” rating to a “sell” rating in a research note on Thursday, May 23rd. Deutsche Bank set a $100.00 price objective on shares of Nike and gave the stock a “buy” rating in a research note on Friday. Credit Suisse Group set a $97.00 price target on shares of Nike and gave the company a “buy” rating in a research report on Friday. UBS Group set a $85.00 price target on shares of Nike and gave the company a “neutral” rating in a research report on Monday, June 17th. Finally, Goldman Sachs Group restated a “neutral” rating and set a $83.00 price target on shares of Nike in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $88.72.
In related news, insider Eric D. Sprunk sold 40,004 shares of Nike stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total value of $3,513,151.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 110,000 shares of Nike stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $85.02, for a total transaction of $9,352,200.00. The disclosure for this sale can be found here. 3.90% of the stock is owned by company insiders.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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