Sumitomo Life Insurance Co. Has $990,000 Position in NIKE, Inc. (NYSE:NKE)

Sumitomo Life Insurance Co. lowered its position in NIKE, Inc. (NYSE:NKE - Free Report) by 42.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,082 shares of the footwear maker's stock after selling 9,743 shares during the quarter. Sumitomo Life Insurance Co.'s holdings in NIKE were worth $990,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Garrison Point Advisors LLC increased its position in NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker's stock valued at $593,000 after purchasing an additional 126 shares during the period. Stephens Consulting LLC raised its stake in NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker's stock worth $68,000 after buying an additional 128 shares in the last quarter. PSI Advisors LLC lifted its holdings in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker's stock worth $55,000 after buying an additional 130 shares during the period. Chapin Davis Inc. boosted its position in NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker's stock valued at $1,010,000 after acquiring an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC increased its holdings in shares of NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker's stock valued at $742,000 after acquiring an additional 133 shares during the period. Institutional investors own 64.25% of the company's stock.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business's stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company's stock, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

NKE traded up $1.70 during trading on Thursday, reaching $78.28. 10,894,537 shares of the company were exchanged, compared to its average volume of 12,164,288. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a market cap of $115.79 billion, a P/E ratio of 24.16, a PEG ratio of 2.36 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The firm has a 50 day moving average of $75.55 and a 200 day moving average of $77.95.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm posted $1.03 EPS. NIKE's quarterly revenue was down 7.7% compared to the same quarter last year. On average, sell-side analysts forecast that NIKE, Inc. will post 2.1 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a dividend of $0.40 per share. This is a boost from NIKE's previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.04%. NIKE's payout ratio is presently 49.38%.

Analyst Ratings Changes

Several equities analysts have issued reports on NKE shares. Robert W. Baird cut their target price on NIKE from $110.00 to $105.00 and set an "outperform" rating on the stock in a research note on Monday, December 23rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $92.00 to $82.00 and set a "buy" rating for the company in a research note on Monday, December 16th. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $77.00 to $73.00 and set a "neutral" rating for the company in a research note on Monday, December 2nd. Morgan Stanley reduced their price target on NIKE from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Friday, December 20th. Finally, Barclays dropped their target price on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $89.96.

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.