Arbor Capital Management Inc. ADV Buys 348 Shares of NIKE, Inc. (NYSE:NKE)

Arbor Capital Management Inc. ADV lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,275 shares of the footwear maker’s stock after acquiring an additional 348 shares during the quarter. Arbor Capital Management Inc. ADV’s holdings in NIKE were worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. IMG Wealth Management Inc. bought a new position in shares of NIKE during the fourth quarter worth about $46,000. Nicholas Company Inc. increased its holdings in NIKE by 9.3% in the fourth quarter. Nicholas Company Inc. now owns 74,267 shares of the footwear maker’s stock worth $5,620,000 after purchasing an additional 6,297 shares in the last quarter. Glenview Trust co increased its holdings in NIKE by 300.4% in the fourth quarter. Glenview Trust co now owns 99,050 shares of the footwear maker’s stock worth $7,495,000 after purchasing an additional 74,310 shares in the last quarter. Pollock Investment Advisors LLC bought a new stake in NIKE in the fourth quarter worth approximately $288,000. Finally, Wellington Shields & Co. LLC increased its holdings in NIKE by 7.8% in the fourth quarter. Wellington Shields & Co. LLC now owns 5,511 shares of the footwear maker’s stock worth $417,000 after purchasing an additional 400 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NKE shares. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Barclays lowered their target price on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Morgan Stanley lowered their target price on NIKE from $74.00 to $72.00 and set an “equal weight” rating for the company in a report on Thursday. JPMorgan Chase & Co. reduced their price objective on NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research note on Wednesday, February 19th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.69.

NIKE Stock Down 1.3 %

NKE stock opened at $71.72 on Monday. The stock’s fifty day simple moving average is $74.68 and its two-hundred day simple moving average is $77.77. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $101.92. The stock has a market cap of $106.08 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.52 and a beta of 1.02.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. NIKE’s payout ratio is presently 49.38%.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% 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.