Arlington Financial Advisors LLC increased its position in shares of Nike Inc (NYSE:NKE) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,450 shares of the footwear maker’s stock after buying an additional 982 shares during the period. Nike accounts for approximately 2.1% of Arlington Financial Advisors LLC’s holdings, making the stock its 14th biggest position. Arlington Financial Advisors LLC’s holdings in Nike were worth $2,933,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Firestone Capital Management acquired a new position in Nike during the 4th quarter valued at $25,000. Sowa Financial Group Inc. acquired a new position in Nike during the 4th quarter valued at $27,000. LFA Lugano Financial Advisors SA acquired a new position in Nike during the 4th quarter valued at $33,000. Carmichael Hill & Associates Inc. acquired a new position in Nike during the 4th quarter valued at $37,000. Finally, PSI Advisors LLC acquired a new position in Nike during the 4th quarter valued at $37,000. 65.40% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:NKE traded up $1.49 during mid-day trading on Thursday, reaching $86.79. The stock had a trading volume of 7,771,385 shares, compared to its average volume of 9,753,541. The firm has a market cap of $131.07 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.44 and a beta of 0.82. The firm has a 50 day simple moving average of $84.33 and a two-hundred day simple moving average of $93.29. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69. Nike Inc has a twelve month low of $60.00 and a twelve month high of $105.62.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd were issued a dividend of $0.245 per share. The ex-dividend date was Friday, February 28th. This represents a $0.98 annualized dividend and a yield of 1.13%. Nike’s dividend payout ratio (DPR) is currently 39.36%.
In other Nike news, EVP John F. Slusher sold 110,000 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $101.26, for a total transaction of $11,138,600.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John W. Rogers, Jr. bought 2,500 shares of the company’s stock in a transaction on Thursday, March 26th. The shares were bought at an average price of $84.22 per share, for a total transaction of $210,550.00. Following the completion of the acquisition, the director now directly owns 11,851 shares in the company, valued at approximately $998,091.22. The disclosure for this purchase can be found here. Insiders have sold a total of 146,500 shares of company stock worth $14,859,100 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.
Several research firms recently commented on NKE. Evercore ISI initiated coverage on shares of Nike in a research note on Friday, December 20th. They set a “buy” rating and a $150.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $110.00 price objective on shares of Nike in a research note on Thursday, February 6th. Oppenheimer initiated coverage on shares of Nike in a research note on Thursday, February 6th. They issued a “buy” rating and a $115.00 price objective for the company. Consumer Edge initiated coverage on shares of Nike in a research note on Friday, December 27th. They issued an “overweight” rating and a $110.00 price objective for the company. Finally, Guggenheim restated a “buy” rating and issued a $110.00 price objective on shares of Nike in a research note on Friday, December 13th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and twenty-seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $97.67.
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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