AIA Group Ltd Purchases 10,723 Shares of NIKE, Inc. (NYSE:NKE)

AIA Group Ltd raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 20.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,800 shares of the footwear maker's stock after purchasing an additional 10,723 shares during the period. AIA Group Ltd's holdings in NIKE were worth $4,828,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of NKE. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the 4th quarter worth about $28,000. Caitlin John LLC increased its position in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after buying an additional 200 shares during the period. Roxbury Financial LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $30,000. LFA Lugano Financial Advisors SA boosted its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after acquiring an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of NIKE in the fourth quarter worth $30,000. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

NKE has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of NIKE from a "hold" rating to a "buy" rating and upped their price objective for the company from $75.00 to $115.00 in a research report on Monday, February 24th. Cfra Research raised NIKE to a "moderate buy" rating in a report on Friday, March 21st. Citigroup lowered NIKE from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Barclays lowered their price objective on NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, December 20th. Finally, Wells Fargo & Company reduced their target price on NIKE from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $87.38.

Remove Ads

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company's stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company's stock.

NIKE Trading Up 0.4 %

Shares of NKE stock traded up $0.28 on Wednesday, reaching $65.04. The company had a trading volume of 9,829,584 shares, compared to its average volume of 12,950,143. NIKE, Inc. has a 12 month low of $60.87 and a 12 month high of $98.04. The stock has a market cap of $96.20 billion, a PE ratio of 20.07, a PEG ratio of 2.52 and a beta of 1.02. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $73.84 and a 200-day moving average of $76.72.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company's revenue for the quarter was down 9.1% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.46%. NIKE's payout ratio is 53.16%.

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.