Arkadios Wealth Advisors Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Arkadios Wealth Advisors increased its position in NIKE, Inc. (NYSE:NKEGet Rating) by 20.6% in the second quarter, Holdings Channel.com reports. The fund owned 9,589 shares of the footwear maker’s stock after purchasing an additional 1,637 shares during the period. Arkadios Wealth Advisors’ holdings in NIKE were worth $980,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NKE. FNY Investment Advisers LLC purchased a new stake in NIKE during the 1st quarter valued at $26,000. Antonetti Capital Management LLC raised its stake in NIKE by 900.0% during the 1st quarter. Antonetti Capital Management LLC now owns 200 shares of the footwear maker’s stock valued at $27,000 after buying an additional 180 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new stake in NIKE during the 4th quarter valued at $31,000. Worth Asset Management LLC purchased a new stake in NIKE during the 1st quarter valued at $32,000. Finally, Mark Sheptoff Financial Planning LLC raised its stake in NIKE by 6,250.0% during the 1st quarter. Mark Sheptoff Financial Planning LLC now owns 254 shares of the footwear maker’s stock valued at $34,000 after buying an additional 250 shares during the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 10,000 shares of the stock in a transaction on Thursday, June 30th. The stock was bought at an average cost of $102.96 per share, for a total transaction of $1,029,600.00. Following the completion of the purchase, the director now directly owns 25,681 shares in the company, valued at $2,644,115.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Matthew Friend sold 4,139 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $113.42, for a total transaction of $469,445.38. Following the completion of the transaction, the chief financial officer now owns 56,539 shares of the company’s stock, valued at $6,412,653.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Rogers, Jr. bought 10,000 shares of NIKE stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average cost of $102.96 per share, with a total value of $1,029,600.00. Following the acquisition, the director now owns 25,681 shares of the company’s stock, valued at $2,644,115.76. The disclosure for this purchase can be found here. Insiders sold a total of 59,561 shares of company stock worth $6,374,094 over the last three months. Corporate insiders own 0.40% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $98.55 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.84 and a current ratio of 2.63. The firm’s 50 day moving average price is $109.72 and its 200-day moving average price is $115.81. NIKE, Inc. has a 52-week low of $97.83 and a 52-week high of $179.10. The company has a market cap of $154.58 billion, a PE ratio of 26.21, a P/E/G ratio of 2.11 and a beta of 1.03.

NIKE (NYSE:NKEGet Rating) last announced its earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.09. The company had revenue of $12.20 billion during the quarter, compared to the consensus estimate of $12.10 billion. NIKE had a net margin of 12.94% and a return on equity of 40.74%. NIKE’s revenue was down .8% compared to the same quarter last year. During the same period last year, the firm earned $0.93 earnings per share. Sell-side analysts forecast that NIKE, Inc. will post 3.78 EPS for the current fiscal year.

NIKE declared that its Board of Directors has initiated a stock buyback program on Monday, June 27th that allows the company to buyback $18.00 billion in shares. This buyback authorization allows the footwear maker to reacquire up to 11% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be paid a $0.305 dividend. The ex-dividend date is Friday, September 2nd. This represents a $1.22 annualized dividend and a yield of 1.24%. NIKE’s dividend payout ratio (DPR) is 32.45%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NKE shares. BNP Paribas lowered shares of NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 target price for the company. in a research note on Tuesday, August 9th. Barclays lowered NIKE from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $125.00 to $110.00 in a research note on Tuesday. BMO Capital Markets reduced their price objective on NIKE from $142.00 to $128.00 and set an “outperform” rating for the company in a research note on Tuesday, June 28th. Morgan Stanley reduced their price objective on NIKE from $149.00 to $129.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. set a $130.00 price objective on NIKE in a research note on Wednesday, August 10th. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $132.77.

About NIKE

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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