Arrow Capital Pty Ltd Takes $3.03 Million Position in NIKE, Inc. (NYSE:NKE)

Arrow Capital Pty Ltd acquired a new position in shares of NIKE, Inc. (NYSE:NKEFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,000 shares of the footwear maker’s stock, valued at approximately $3,027,000. NIKE comprises about 2.8% of Arrow Capital Pty Ltd’s portfolio, making the stock its 15th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co raised its position in shares of NIKE by 3.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,669,647 shares of the footwear maker’s stock worth $201,925,000 after acquiring an additional 77,011 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of NIKE by 51.5% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,350,889 shares of the footwear maker’s stock worth $102,222,000 after buying an additional 459,263 shares during the period. GKV Capital Management Co. Inc. acquired a new position in NIKE in the fourth quarter valued at approximately $288,000. Strategic Investment Solutions Inc. IL boosted its stake in NIKE by 222.6% in the fourth quarter. Strategic Investment Solutions Inc. IL now owns 713 shares of the footwear maker’s stock valued at $54,000 after acquiring an additional 492 shares during the last quarter. Finally, Altshuler Shaham Ltd raised its position in shares of NIKE by 42.9% during the 4th quarter. Altshuler Shaham Ltd now owns 43,654 shares of the footwear maker’s stock valued at $3,303,000 after acquiring an additional 13,095 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s 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 transaction, the chairman now owns 896,632 shares in the company, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares of the company’s stock, valued at $1,869,726.18. This represents a 36.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $53.60 on Thursday. The stock has a market capitalization of $79.28 billion, a PE ratio of 16.54, a PEG ratio of 2.52 and a beta of 1.15. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business’s 50 day simple moving average is $69.01 and its 200 day simple moving average is $74.31.

NIKE (NYSE:NKEGet Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the company posted $0.98 EPS. The business’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Monday, March 3rd. NIKE’s dividend payout ratio is presently 53.16%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NKE shares. Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research note on Monday, March 17th. China Renaissance initiated coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating for the company. Cfra Research raised shares of NIKE to a “moderate buy” rating in a report on Friday, March 21st. Finally, Royal Bank of Canada lowered their price target on NIKE from $67.00 to $66.00 and set a “sector perform” rating for the company in a report on Friday, March 21st. Sixteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.15.

Read Our Latest Stock Report on NIKE

NIKE Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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