Dai Ichi Life Insurance Company Ltd boosted its stake in shares of Nike Inc (NYSE:NKE) by 11.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 143,634 shares of the footwear maker’s stock after acquiring an additional 14,868 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Nike were worth $11,445,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NKE. HC Financial Advisors Inc. purchased a new position in Nike in the 4th quarter worth $1,117,000. Global X Management Co. LLC raised its stake in Nike by 9.2% in the 1st quarter. Global X Management Co. LLC now owns 27,743 shares of the footwear maker’s stock worth $1,843,000 after acquiring an additional 2,346 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its stake in Nike by 36.8% in the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 86,083 shares of the footwear maker’s stock worth $5,609,000 after acquiring an additional 23,157 shares during the last quarter. Dean Capital Investments Management LLC purchased a new position in Nike in the 1st quarter worth $462,000. Finally, NuWave Investment Management LLC raised its stake in Nike by 217.4% in the 1st quarter. NuWave Investment Management LLC now owns 8,560 shares of the footwear maker’s stock worth $566,000 after acquiring an additional 5,863 shares during the last quarter. 64.02% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:NKE opened at $81.40 on Friday. Nike Inc has a 52 week low of $50.35 and a 52 week high of $83.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.63 and a current ratio of 2.51. The stock has a market cap of $132.17 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.76 and a beta of 0.68.

Nike (NYSE:NKE) last posted its earnings results on Thursday, June 28th. The footwear maker reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. Nike had a return on equity of 36.57% and a net margin of 5.31%. The firm had revenue of $9.79 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same period last year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. analysts expect that Nike Inc will post 2.62 EPS for the current fiscal year.

Nike announced that its board has initiated a stock buyback program on Thursday, June 28th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the footwear maker to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Tuesday, September 4th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Friday, August 31st. Nike’s dividend payout ratio (DPR) is presently 33.06%.

In other news, EVP Monique S. Matheson sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $76.07, for a total transaction of $760,700.00. Following the sale, the executive vice president now directly owns 86,774 shares in the company, valued at approximately $6,600,898.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elliott Hill sold 5,741 shares of the firm’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $78.17, for a total value of $448,773.97. The disclosure for this sale can be found here. Insiders have sold a total of 512,778 shares of company stock worth $39,376,326 over the last 90 days. Insiders own 3.90% of the company’s stock.

NKE has been the subject of a number of research analyst reports. Credit Suisse Group restated a “buy” rating and issued a $78.00 target price on shares of Nike in a research note on Thursday, June 14th. Susquehanna Bancshares upgraded Nike from a “neutral” rating to a “positive” rating and lifted their price objective for the company from $78.00 to $93.00 in a research note on Monday, August 20th. UBS Group lowered Nike from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $76.00 to $78.00 in a research note on Thursday, June 21st. Wells Fargo & Co set a $82.00 price objective on Nike and gave the company a “neutral” rating in a research note on Monday, August 6th. Finally, DZ Bank reiterated a “sell” rating on shares of Nike in a research note on Friday, June 29th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $79.19.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

Read More: Return on Investment (ROI)

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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