ARP Americas LP Acquires Shares of 3,000 Nike Inc (NKE)

ARP Americas LP acquired a new stake in shares of Nike Inc (NYSE:NKE) during the third quarter, HoldingsChannel.com reports. The firm acquired 3,000 shares of the footwear maker’s stock, valued at approximately $254,000.

A number of other institutional investors have also bought and sold shares of the business. Hamel Associates Inc. grew its position in Nike by 29.2% in the third quarter. Hamel Associates Inc. now owns 6,462 shares of the footwear maker’s stock worth $547,000 after buying an additional 1,460 shares during the last quarter. Howland Capital Management LLC acquired a new position in Nike in the third quarter worth approximately $200,000. Confluence Investment Management LLC grew its position in Nike by 1.7% in the third quarter. Confluence Investment Management LLC now owns 247,349 shares of the footwear maker’s stock worth $20,955,000 after buying an additional 4,252 shares during the last quarter. Balasa Dinverno & Foltz LLC grew its position in Nike by 19.9% in the third quarter. Balasa Dinverno & Foltz LLC now owns 12,051 shares of the footwear maker’s stock worth $1,021,000 after buying an additional 1,997 shares during the last quarter. Finally, Dearborn Partners LLC grew its position in Nike by 10.6% in the third quarter. Dearborn Partners LLC now owns 22,662 shares of the footwear maker’s stock worth $1,920,000 after buying an additional 2,166 shares during the last quarter. Hedge funds and other institutional investors own 64.50% of the company’s stock.

NKE has been the topic of several recent research reports. Goldman Sachs Group set a $83.00 price target on shares of Nike and gave the stock a “neutral” rating in a research report on Wednesday, September 26th. Guggenheim lifted their price target on shares of Nike to $100.00 and gave the stock a “buy” rating in a research report on Thursday, September 20th. HSBC set a $92.00 price target on shares of Nike and gave the stock a “buy” rating in a research report on Thursday, September 6th. Susquehanna Bancshares upgraded shares of Nike from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $78.00 to $93.00 in a research report on Monday, August 20th. Finally, Wells Fargo & Co set a $82.00 price target on shares of Nike and gave the stock a “neutral” rating in a research report on Monday, August 6th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-four have given a buy rating to the company’s stock. Nike presently has a consensus rating of “Buy” and a consensus price target of $85.63.



In other Nike news, EVP Monique S. Matheson sold 17,000 shares of Nike stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $83.15, for a total transaction of $1,413,550.00. Following the completion of the sale, the executive vice president now owns 104,737 shares of the company’s stock, valued at approximately $8,708,881.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $85.05, for a total transaction of $1,360,800.00. Following the sale, the director now directly owns 26,963 shares of the company’s stock, valued at approximately $2,293,203.15. The disclosure for this sale can be found here. Insiders have sold a total of 50,000 shares of company stock valued at $4,219,350 in the last three months. Company insiders own 3.90% of the company’s stock.

Shares of NYSE:NKE opened at $72.07 on Monday. The firm has a market cap of $114.45 billion, a price-to-earnings ratio of 29.78, a P/E/G ratio of 2.25 and a beta of 0.65. Nike Inc has a 12-month low of $54.52 and a 12-month high of $86.04. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.31 and a quick ratio of 1.53.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 25th. The footwear maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.92 billion. Nike had a net margin of 5.57% and a return on equity of 40.69%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Equities analysts forecast that Nike Inc will post 2.62 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Tuesday, September 4th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, August 31st. Nike’s dividend payout ratio (DPR) is currently 33.06%.

Nike Company Profile

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.

Further Reading: What is a stock split?

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nike Inc (NYSE:NKE).

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply