Arkadios Wealth Advisors Reduces Position in NIKE, Inc. $NKE

Arkadios Wealth Advisors decreased its position in shares of NIKE, Inc. (NYSE:NKE) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,131 shares of the footwear maker’s stock after selling 2,682 shares during the quarter. Arkadios Wealth Advisors’ holdings in NIKE were worth $3,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mascoma Wealth Management LLC acquired a new position in shares of NIKE during the 2nd quarter valued at about $26,000. Stone House Investment Management LLC acquired a new position in shares of NIKE during the 1st quarter valued at about $25,000. Halbert Hargrove Global Advisors LLC boosted its position in shares of NIKE by 952.6% during the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 362 shares during the last quarter. Matrix Trust Co boosted its position in shares of NIKE by 53.1% during the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in shares of NIKE during the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on NKE. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the company a “buy” rating in a research report on Thursday, September 25th. Citigroup raised shares of NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.21.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at $2,095,052.92. This represents a 12.76% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is currently owned by corporate insiders.

NIKE Trading Down 3.1%

NYSE NKE opened at $65.35 on Thursday. The firm’s 50-day moving average is $71.79 and its two-hundred day moving average is $68.17. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $82.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market capitalization of $96.59 billion, a P/E ratio of 33.51, a PEG ratio of 2.48 and a beta of 1.29.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.70 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio is currently 82.05%.

NIKE 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.