NIKE, Inc. $NKE is Arlington Partners LLC's 4th Largest Position

Key Points

• Arlington Partners LLC increased its stake in NIKE, Inc. by 33.8% during the second quarter, now holding 72,275 shares valued at approximately $5.13 million.
• Overall, institutional investors own 64.25% of NIKE's stock, indicating a significant level of institutional interest in the company.
• NIKE reported earnings with a net margin of 6.95% and revenue of $11.10 billion for the last quarter, exceeding analysts' expectations.

Arlington Partners LLC increased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 33.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 72,275 shares of the footwear maker's stock after buying an additional 18,249 shares during the quarter. NIKE accounts for about 1.9% of Arlington Partners LLC's holdings, making the stock its 4th biggest holding. Arlington Partners LLC's holdings in NIKE were worth $5,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stone House Investment Management LLC acquired a new stake in shares of NIKE in the 1st quarter valued at approximately $25,000. Heck Capital Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at approximately $28,000. Saudi Central Bank bought a new stake in shares of NIKE during the first quarter worth $30,000. Matrix Trust Co increased its holdings in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after buying an additional 153 shares in the last quarter. Finally, Roxbury Financial LLC lifted its stake in shares of NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the sale, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NKE. Wall Street Zen raised NIKE from a "sell" rating to a "hold" rating in a report on Saturday, September 6th. Royal Bank Of Canada upgraded shares of NIKE from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $76.00 to $90.00 in a research report on Thursday. Piper Sandler upped their price target on shares of NIKE from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Jefferies Financial Group reaffirmed a "buy" rating and set a $115.00 price target on shares of NIKE in a research note on Friday, August 22nd. Finally, TD Cowen raised shares of NIKE from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $62.00 to $85.00 in a research note on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.04.

NIKE Trading Up 0.6%

NYSE NKE traded up $0.40 during trading hours on Monday, hitting $71.29. 12,134,877 shares of the company's stock were exchanged, compared to its average volume of 11,800,166. The firm has a market cap of $105.29 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 2.57 and a beta of 1.24. The stock has a 50-day simple moving average of $75.16 and a 200 day simple moving average of $67.38. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company's quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. On average, equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.2%. NIKE's dividend payout ratio is currently 74.07%.

NIKE Company 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.