AR Asset Management Inc. Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

AR Asset Management Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 0.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,770 shares of the footwear maker’s stock after purchasing an additional 400 shares during the period. NIKE makes up approximately 1.4% of AR Asset Management Inc.’s holdings, making the stock its 18th largest holding. AR Asset Management Inc.’s holdings in NIKE were worth $5,937,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cim LLC purchased a new position in shares of NIKE in the fourth quarter worth about $14,275,000. TKG Advisors LLC purchased a new position in shares of NIKE in the fourth quarter worth about $1,012,000. Spartan Planning & Wealth Management purchased a new position in shares of NIKE in the fourth quarter worth about $182,000. Edmond DE Rothschild Holding S.A. increased its holdings in shares of NIKE by 27.9% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock worth $12,301,000 after buying an additional 24,686 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in shares of NIKE by 86.0% in the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock worth $1,970,000 after buying an additional 9,689 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NKE stock opened at $80.97 on Friday. The stock has a market capitalization of $122.21 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The company has a current ratio of 2.40, a quick ratio of 1.69 and a debt-to-equity ratio of 0.55. The stock’s 50 day simple moving average is $77.84 and its 200 day simple moving average is $87.23.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, research analysts forecast that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.83%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Ratings Changes

Several research firms have recently commented on NKE. Bank of America decreased their price objective on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Oppenheimer restated an “outperform” rating and set a $120.00 price target on shares of NIKE in a report on Friday, June 28th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Guggenheim reduced their price target on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, BMO Capital Markets reduced their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, June 28th. Fifteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $95.33.

Insider Activity at NIKE

In related news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is currently owned by insiders.

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.