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

Rakuten Securities Inc. bought a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,030 shares of the footwear maker’s stock, valued at approximately $220,000.

Other large investors also recently modified their holdings of the company. Oliver Luxxe Assets LLC grew its stake in shares of NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after acquiring an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in NIKE in the fourth quarter worth about $8,034,000. Financial Gravity Asset Management Inc. grew its stake in NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares in the last quarter. International Assets Investment Management LLC grew its stake in NIKE by 10,184.3% in the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its stake in NIKE by 55.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

NYSE:NKE traded up $0.29 during midday trading on Wednesday, hitting $93.39. 10,388,153 shares of the stock were exchanged, compared to its average volume of 11,716,572. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $140.96 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 1.80 and a beta of 1.08. The business has a 50-day moving average price of $98.65 and a two-hundred day moving average price of $103.48.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. Sell-side analysts predict that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Raymond James lifted their price target on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. Evercore ISI decreased their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Piper Sandler decreased their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. HSBC cut their target price on shares of NIKE from $120.00 to $115.00 and set a “hold” rating on the stock in a report on Monday, January 22nd. Finally, Barclays cut their target price on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

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.