Arlington Financial Advisors LLC Boosts Stock Position in NIKE, Inc. $NKE

Key Points

• Arlington Financial Advisors LLC increased its stake in NIKE by 27.6% in Q2, holding nearly 58,000 shares worth over $4 million.
• Hedge funds collectively own 64.25% of NIKE's stock, with major increases from firms like Vanguard and Goldman Sachs.
• NIKE recently announced a quarterly dividend of $0.40 per share, translating to an annualized dividend yield of 2.4%.

Arlington Financial Advisors LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 27.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,947 shares of the footwear maker's stock after purchasing an additional 12,529 shares during the quarter. Arlington Financial Advisors LLC's holdings in NIKE were worth $4,117,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NKE. Vanguard Group Inc. grew its holdings in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock valued at $7,182,831,000 after buying an additional 4,957,494 shares during the period. Wellington Management Group LLP grew its holdings in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after buying an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after buying an additional 20,688,013 shares during the period. Bank of New York Mellon Corp grew its holdings in NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock valued at $1,332,331,000 after buying an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE grew its holdings in NIKE by 24.0% in the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after buying an additional 1,988,547 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Insider Activity at NIKE

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

NIKE Stock Performance

NIKE stock opened at $67.67 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. NIKE, Inc. has a one year low of $52.28 and a one year high of $84.76. The stock's 50 day moving average price is $73.52 and its 200 day moving average price is $67.33. The firm has a market capitalization of $100.03 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 2.48 and a beta of 1.29.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data 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. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The company had revenue of $11.72 billion for the quarter, compared to the consensus estimate of $10.96 billion. During the same period in the previous year, the business earned $0.70 EPS. NIKE's revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on the company. Wall Street Zen upgraded NIKE from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Argus upgraded NIKE to a "buy" rating in a report on Sunday, July 6th. Piper Sandler set a $84.00 price objective on NIKE and gave the company an "overweight" rating in a research note on Wednesday, October 1st. Sanford C. Bernstein reaffirmed a "buy" rating and issued a $90.00 price objective on shares of NIKE in a research note on Monday. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $75.00 price objective on shares of NIKE in a research note 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $82.21.

About NIKE

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.

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