Arrow Investment Advisors LLC increased its stake in shares of Nike Inc. (NYSE:NKE) by 14.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 26,202 shares of the footwear maker’s stock after buying an additional 3,372 shares during the period. Nike comprises about 0.3% of Arrow Investment Advisors LLC’s portfolio, making the stock its 26th largest position. Arrow Investment Advisors LLC’s holdings in Nike were worth $1,446,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in NKE. BlackRock Institutional Trust Company N.A. boosted its position in shares of Nike by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 36,848,805 shares of the footwear maker’s stock valued at $2,265,096,000 after buying an additional 204,944 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Nike by 92.6% in the first quarter. Wellington Management Group LLP now owns 27,329,360 shares of the footwear maker’s stock valued at $1,679,937,000 after buying an additional 13,136,502 shares during the last quarter. BlackRock Group LTD boosted its position in shares of Nike by 1.5% in the first quarter. BlackRock Group LTD now owns 11,814,496 shares of the footwear maker’s stock valued at $726,236,000 after buying an additional 177,028 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Nike by 5.7% in the first quarter. Geode Capital Management LLC now owns 11,593,721 shares of the footwear maker’s stock valued at $711,300,000 after buying an additional 628,853 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt boosted its position in shares of Nike by 161.5% in the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,210,000 shares of the footwear maker’s stock valued at $232,392,000 after buying an additional 2,600,000 shares during the last quarter. 62.04% of the stock is currently owned by institutional investors.
Nike Inc. (NYSE:NKE) traded down 0.17% on Thursday, reaching $52.03. The company’s stock had a trading volume of 9,391,223 shares. Nike Inc. has a one year low of $51.48 and a one year high of $68.19. The firm has a 50-day moving average of $56.14 and a 200-day moving average of $56.95. The company has a market capitalization of $86.99 billion, a PE ratio of 23.48 and a beta of 0.56.
Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.17. Nike had a return on equity of 30.56% and a net margin of 11.60%. The firm had revenue of $9.06 billion for the quarter. During the same period last year, the firm posted $1.34 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts predict that Nike Inc. will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Tuesday, September 6th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, September 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. Nike’s dividend payout ratio (DPR) is 28.83%.
Several research analysts have weighed in on the company. B. Riley reissued a “buy” rating and issued a $66.00 price objective on shares of Nike in a research report on Monday, June 27th. Zacks Investment Research raised Nike from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Susquehanna reissued a “positive” rating and issued a $74.00 price objective on shares of Nike in a research report on Wednesday, June 22nd. Cowen and Company reissued a “buy” rating on shares of Nike in a research report on Wednesday, June 22nd. Finally, FBR & Co cut their price objective on Nike from $63.00 to $55.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.54.
In other news, Director John C. Lechleiter bought 1,000 shares of Nike stock in a transaction dated Friday, September 30th. The shares were purchased at an average cost of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the director now owns 27,560 shares of the company’s stock, valued at approximately $1,452,963.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Hilary K. Krane sold 100,000 shares of Nike stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $56.99, for a total value of $5,699,000.00. Following the completion of the sale, the executive vice president now directly owns 310,795 shares in the company, valued at $17,712,207.05. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company sells its products to retail accounts, through NIKE-owned retail stores and Internet Websites (which the Company refers to as its Direct to Consumer or DTC operations), and through a mix of independent distributors and licensees throughout the world.
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