Arkadios Wealth Advisors Purchases 1,637 Shares of NIKE, Inc. (NYSE:NKE)

Arkadios Wealth Advisors boosted its position in NIKE, Inc. (NYSE:NKEGet Rating) by 20.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,589 shares of the footwear maker’s stock after purchasing an additional 1,637 shares during the quarter. Arkadios Wealth Advisors’ holdings in NIKE were worth $980,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Prestige Wealth Management Group LLC raised its holdings in NIKE by 3.2% in the 4th quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the footwear maker’s stock valued at $382,000 after acquiring an additional 70 shares in the last quarter. Vectors Research Management LLC raised its holdings in NIKE by 11.3% in the 4th quarter. Vectors Research Management LLC now owns 708 shares of the footwear maker’s stock valued at $118,000 after acquiring an additional 72 shares in the last quarter. Wealthquest Corp raised its holdings in NIKE by 2.1% in the 4th quarter. Wealthquest Corp now owns 3,786 shares of the footwear maker’s stock valued at $631,000 after acquiring an additional 79 shares in the last quarter. Bank of New Hampshire raised its holdings in NIKE by 0.6% in the 1st quarter. Bank of New Hampshire now owns 13,282 shares of the footwear maker’s stock valued at $1,787,000 after acquiring an additional 80 shares in the last quarter. Finally, Gilman Hill Asset Management LLC raised its holdings in NIKE by 1.8% in the 1st quarter. Gilman Hill Asset Management LLC now owns 4,777 shares of the footwear maker’s stock valued at $643,000 after acquiring an additional 84 shares in the last quarter. 64.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of several analyst reports. BNP Paribas cut NIKE from an “outperform” rating to a “neutral” rating and set a $118.00 price objective for the company. in a report on Tuesday, August 9th. The Goldman Sachs Group dropped their price objective on NIKE from $155.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, June 29th. Morgan Stanley lowered their price target on NIKE from $149.00 to $129.00 and set an “overweight” rating for the company in a report on Thursday. Jefferies Financial Group set a $155.00 price target on NIKE in a report on Tuesday, June 28th. Finally, Guggenheim lowered their price target on NIKE from $160.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, June 28th. Eleven equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $132.77.

NIKE Stock Down 1.2 %

Shares of NIKE stock opened at $98.55 on Friday. NIKE, Inc. has a one year low of $97.83 and a one year high of $179.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84. The stock’s 50-day moving average is $109.72 and its 200 day moving average is $115.81. The firm has a market cap of $154.58 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 2.11 and a beta of 1.03.

NIKE (NYSE:NKEGet Rating) last posted its quarterly earnings results on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. NIKE had a return on equity of 40.74% and a net margin of 12.94%. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $12.10 billion. During the same period in the prior year, the business earned $0.93 EPS. The firm’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 3.78 EPS for the current year.

NIKE Dividend Announcement

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

NIKE declared that its board has approved a stock buyback program on Monday, June 27th that authorizes the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization authorizes the footwear maker to buy up to 11% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, COO Andrew Campion sold 5,922 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total value of $671,673.24. Following the completion of the sale, the chief operating officer now directly owns 75,295 shares of the company’s stock, valued at $8,539,958.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NIKE news, COO Andrew Campion sold 5,922 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $113.42, for a total transaction of $671,673.24. Following the completion of the transaction, the chief operating officer now directly owns 75,295 shares of the company’s stock, valued at $8,539,958.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 19,500 shares of the firm’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $103.45, for a total value of $2,017,275.00. Following the completion of the transaction, the executive vice president now directly owns 80,355 shares of the company’s stock, valued at $8,312,724.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,561 shares of company stock valued at $6,374,094. 0.40% of the stock is owned by company insiders.

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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