AR Asset Management Inc. lessened its position in shares of Nike Inc (NYSE:NKE) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,350 shares of the footwear maker’s stock after selling 500 shares during the quarter. Nike comprises 2.6% of AR Asset Management Inc.’s portfolio, making the stock its 11th biggest holding. AR Asset Management Inc.’s holdings in Nike were worth $7,265,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Garrett Wealth Advisory Group LLC purchased a new position in Nike during the 3rd quarter worth $26,000. Marquette Asset Management LLC purchased a new stake in Nike during the 3rd quarter valued at about $28,000. Candriam Luxembourg S.C.A. grew its stake in Nike by 97.4% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 295,776 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 145,904 shares during the last quarter. Hexavest Inc. acquired a new position in shares of Nike in the 2nd quarter valued at about $30,000. Finally, Litman Gregory Asset Management LLC acquired a new position in Nike in the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 65.12% of the company’s stock.
NYSE NKE traded up $1.26 on Wednesday, hitting $93.72. The stock had a trading volume of 4,456,348 shares, compared to its average volume of 6,409,241. The company’s 50-day moving average is $92.32 and its two-hundred day moving average is $87.20. The company has a quick ratio of 1.29, a current ratio of 2.01 and a debt-to-equity ratio of 0.67. The stock has a market cap of $145.94 billion, a price-to-earnings ratio of 37.64, a P/E/G ratio of 2.41 and a beta of 0.83. Nike Inc has a one year low of $66.53 and a one year high of $96.87.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.245 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Nike’s previous quarterly dividend of $0.22. This represents a $0.98 dividend on an annualized basis and a yield of 1.05%. Nike’s dividend payout ratio (DPR) is presently 39.36%.
A number of brokerages have commented on NKE. Citigroup increased their target price on Nike from $100.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Robert W. Baird set a $87.00 price target on Nike and gave the stock a “hold” rating in a research note on Monday, September 23rd. Goldman Sachs Group set a $95.00 price objective on Nike and gave the company a “neutral” rating in a research note on Wednesday, September 25th. DZ Bank reiterated a “sell” rating on shares of Nike in a research note on Wednesday, September 25th. Finally, UBS Group raised their price target on Nike from $87.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $97.69.
In other Nike news, CEO Mark G. Parker sold 165,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $93.55, for a total value of $15,435,750.00. Following the sale, the chief executive officer now directly owns 2,046,040 shares in the company, valued at approximately $191,407,042. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 17,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $89.83, for a total transaction of $1,527,110.00. The disclosure for this sale can be found here. Insiders sold a total of 601,445 shares of company stock worth $55,696,403 over the last quarter. 3.80% of the stock is currently owned by company insiders.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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