AIA Group Ltd Sells 15,297 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• AIA Group Ltd sold 15,297 shares of NIKE, Inc., reducing its position by 24% and holding a total of 48,503 shares valued at approximately $3.08 million.
• Several institutional investors increased their stakes in NIKE during the 4th quarter, including Brighton Jones LLC, which lifted its holdings by 388.5% to own over 202,000 shares.
• NIKE recently reported earnings of $0.14 per share, exceeding analyst expectations, while also announcing a quarterly dividend of $0.40 to be paid in October.

AIA Group Ltd reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 24.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,503 shares of the footwear maker's stock after selling 15,297 shares during the quarter. AIA Group Ltd's holdings in NIKE were worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Heck Capital Advisors LLC bought a new stake in NIKE in the fourth quarter worth $28,000. Roxbury Financial LLC lifted its position in NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after buying an additional 201 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in NIKE in the first quarter worth $37,000. Putney Financial Group LLC bought a new stake in shares of NIKE during the fourth quarter worth $40,000. Finally, Minot DeBlois Advisors LLC bought a new stake in shares of NIKE during the fourth quarter worth $42,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 3.2%

NYSE:NKE traded up $2.38 during trading hours on Wednesday, hitting $77.28. 13,467,677 shares of the company's stock traded hands, compared to its average volume of 10,761,510. The firm has a market cap of $114.13 billion, a P/E ratio of 35.78, a P/E/G ratio of 2.72 and a beta of 1.27. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock's fifty day moving average price is $70.49 and its two-hundred day moving average price is $67.67.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the firm earned $0.99 earnings per share. NIKE's quarterly revenue was down 11.9% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.1%. NIKE's dividend payout ratio is presently 74.07%.

Analyst Upgrades and Downgrades

NKE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. JPMorgan Chase & Co. upgraded NIKE from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $64.00 to $93.00 in a research report on Monday, July 28th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research report on Friday, June 27th. Wells Fargo & Company raised their price target on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Finally, Berenberg Bank started coverage on NIKE in a research note on Tuesday, April 15th. They set a "hold" rating and a $58.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and an average target price of $78.22.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by insiders.

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.