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

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

Several other large investors have also recently modified their holdings of NKE. Goldman Sachs Group Inc. raised its stake in shares of NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after acquiring an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP raised its position in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Jennison Associates LLC bought a new position in NIKE during the 1st quarter worth $509,051,000. Nuveen LLC bought a new position in NIKE during the 1st quarter worth $502,285,000. Finally, Vanguard Group Inc. raised its position in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Zacks Research upgraded shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 26th. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Jefferies Financial Group restated a “buy” rating and set a $115.00 price target on shares of NIKE in a report on Monday, September 29th. Finally, Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Stock Performance

NYSE:NKE opened at $61.18 on Wednesday. The company has a fifty day moving average of $70.61 and a 200-day moving average of $68.50. The firm has a market capitalization of $90.43 billion, a P/E ratio of 31.37, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating 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 company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the business posted $0.70 EPS. NIKE’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Insider Transactions at NIKE

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

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.