Arlington Partners LLC Buys 13,927 Shares of NIKE, Inc. (NYSE:NKE)

Arlington Partners LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 39.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,185 shares of the footwear maker’s stock after acquiring an additional 13,927 shares during the period. NIKE accounts for about 1.7% of Arlington Partners LLC’s holdings, making the stock its 21st biggest position. Arlington Partners LLC’s holdings in NIKE were worth $4,348,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Legal & General Group Plc increased its stake in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares in the last quarter. Jennison Associates LLC increased its stake in shares of NIKE by 45.6% in the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of NIKE by 0.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock worth $454,151,000 after purchasing an additional 52,500 shares in the last quarter. Finally, Longview Partners Guernsey LTD purchased a new position in shares of NIKE in the first quarter worth about $533,533,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $120.00 target price on shares of NIKE in a research note on Friday, June 28th. Royal Bank of Canada reduced their price objective on shares of NIKE from $85.00 to $82.00 and set a “sector perform” rating for the company in a research note on Wednesday, October 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research note on Friday, June 28th. Stifel Nicolaus reduced their price objective on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research note on Monday, August 26th. Finally, Barclays reduced their price objective on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.56.

NIKE Trading Down 1.4 %

NYSE:NKE traded down $1.12 during midday trading on Monday, reaching $81.80. 1,532,453 shares of the stock traded hands, compared to its average volume of 11,651,868. The company has a fifty day moving average of $82.64 and a 200 day moving average of $85.24. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $123.47 billion, a P/E ratio of 22.08, a PEG ratio of 1.96 and a beta of 1.02.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. On average, research analysts predict that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% 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.