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

AR Asset Management Inc. decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,270 shares of the footwear maker’s stock after selling 2,500 shares during the quarter. NIKE accounts for approximately 1.3% of AR Asset Management Inc.’s investment portfolio, 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 quarter.

A number of other large investors have also recently bought and sold shares of NKE. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the 4th quarter valued at about $28,000. Caitlin John LLC grew its holdings in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in NIKE during the third quarter valued at approximately $30,000. Roxbury Financial LLC acquired a new position in NIKE in the fourth quarter valued at approximately $30,000. Finally, Bank of Jackson Hole Trust purchased a new stake in NIKE in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of several recent research reports. UBS Group reaffirmed a “neutral” rating and set a $73.00 target price on shares of NIKE in a report on Thursday, December 26th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $72.00 to $90.00 in a report on Friday, January 10th. Wells Fargo & Company decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research report on Monday, December 16th. JPMorgan Chase & Co. dropped their target price on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Finally, Guggenheim restated a “buy” rating and issued a $110.00 price target on shares of NIKE in a research note on Wednesday, February 12th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

NIKE Trading Down 0.9 %

NKE opened at $76.50 on Friday. The firm has a market capitalization of $113.15 billion, a price-to-earnings ratio of 23.61, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company’s 50 day simple moving average is $74.31 and its two-hundred day simple moving average is $78.09. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

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

NIKE Dividend Announcement

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

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.