NIKE, Inc. (NYSE:NKE) Shares Sold by AR Asset Management Inc.

AR Asset Management Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,270 shares of the footwear maker’s stock after selling 2,500 shares during the period. NIKE makes up about 1.3% of AR Asset Management Inc.’s holdings, making the stock its 25th largest holding. AR Asset Management Inc.’s holdings in NIKE were worth $5,771,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Foundations Investment Advisors LLC increased its stake in NIKE by 26.5% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,804 shares of the footwear maker’s stock worth $425,000 after buying an additional 1,006 shares during the period. Private Advisor Group LLC grew its stake in shares of NIKE by 2.9% in the third quarter. Private Advisor Group LLC now owns 75,274 shares of the footwear maker’s stock worth $6,654,000 after acquiring an additional 2,108 shares in the last quarter. McAdam LLC increased its position in shares of NIKE by 6.3% during the third quarter. McAdam LLC now owns 2,852 shares of the footwear maker’s stock worth $252,000 after acquiring an additional 169 shares during the period. PSI Advisors LLC raised its stake in shares of NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares in the last quarter. Finally, HT Partners LLC acquired a new stake in shares of NIKE in the third quarter valued at $226,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NKE shares. JPMorgan Chase & Co. cut their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. Evercore ISI lowered their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a report on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research report on Friday, February 7th. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Performance

Shares of NKE opened at $76.50 on Friday. The company’s 50 day simple moving average is $74.31 and its 200-day simple moving average is $78.09. The firm has a market cap of $113.15 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $106.62. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

NIKE 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.