AR Asset Management Inc. Buys 12,100 Shares of NIKE, Inc. $NKE

AR Asset Management Inc. boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 15.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,870 shares of the footwear maker’s stock after purchasing an additional 12,100 shares during the quarter. NIKE comprises approximately 1.4% of AR Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest position. AR Asset Management Inc.’s holdings in NIKE were worth $6,455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the period. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Jennison Associates LLC bought a new stake in shares of NIKE during the first quarter worth approximately $509,051,000. Nuveen LLC bought a new stake in shares of NIKE during the first quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. boosted its holdings in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This trade represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on NKE shares. Needham & Company LLC restated a “buy” rating and issued a $78.00 price target on shares of NIKE in a research note on Wednesday, October 1st. BTIG Research began coverage on shares of NIKE in a research report on Tuesday, October 14th. They issued a “buy” rating and a $100.00 target price for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of NIKE in a research report on Friday, October 10th. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, Sanford C. Bernstein reissued a “buy” rating and issued a $90.00 price objective on shares of NIKE in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.21.

NIKE Stock Performance

NYSE:NKE opened at $61.18 on Wednesday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The stock has a fifty day moving average price of $70.61 and a 200-day moving average price of $68.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a market cap of $90.43 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion during the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. NIKE’s revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.6%. NIKE’s dividend payout ratio is presently 82.05%.

NIKE Company Profile

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.