Sumitomo Mitsui Financial Group Inc. lowered its position in Nike Inc (NYSE:NKE) by 62.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,641 shares of the footwear maker’s stock after selling 51,115 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Nike were worth $1,589,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Willingdon Wealth Management acquired a new stake in Nike during the third quarter worth approximately $114,000. Asset Planning Services Ltd. raised its holdings in Nike by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock worth $126,000 after purchasing an additional 7 shares in the last quarter. Atlantic Trust LLC acquired a new stake in Nike during the second quarter worth approximately $136,000. Howe & Rusling Inc. raised its holdings in Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Kistler Tiffany Companies LLC raised its holdings in Nike by 91.7% during the second quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock worth $149,000 after purchasing an additional 1,209 shares in the last quarter. 62.67% of the stock is currently owned by institutional investors.

In related news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the transaction, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the transaction, the chief operating officer now directly owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The disclosure for this sale can be found here. Insiders sold a total of 967,896 shares of company stock valued at $60,257,267 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Nike Inc (NKE) opened at $64.67 on Friday. Nike Inc has a one year low of $50.35 and a one year high of $65.18. The firm has a market cap of $105,510.00, a PE ratio of 28.00, a P/E/G ratio of 2.90 and a beta of 0.64. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. Nike had a net margin of 11.13% and a return on equity of 31.64%. The firm had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. equities analysts expect that Nike Inc will post 2.25 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were paid a $0.20 dividend. This is an increase from Nike’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.24%. Nike’s payout ratio is presently 34.63%.

A number of research firms have weighed in on NKE. Citigroup reissued a “buy” rating and set a $74.00 price objective on shares of Nike in a report on Tuesday, December 19th. Canaccord Genuity raised their price objective on shares of Nike from $50.00 to $64.00 and gave the stock a “hold” rating in a report on Tuesday, December 19th. Zacks Investment Research raised shares of Nike from a “hold” rating to a “buy” rating and set a $73.00 price objective on the stock in a report on Tuesday, December 19th. Telsey Advisory Group raised their price objective on shares of Nike from $61.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, December 18th. Finally, Buckingham Research lifted their target price on shares of Nike from $64.00 to $71.00 and gave the company a “buy” rating in a report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-one have given a buy rating to the company. Nike presently has a consensus rating of “Hold” and an average price target of $64.40.

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About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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