AIA Group Ltd Has $5.70 Million Stake in NIKE, Inc. $NKE

AIA Group Ltd boosted its stake in NIKE, Inc. (NYSE:NKE) by 68.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,689 shares of the footwear maker’s stock after acquiring an additional 33,186 shares during the quarter. AIA Group Ltd’s holdings in NIKE were worth $5,696,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Twin Peaks Wealth Advisors LLC bought a new stake in shares of NIKE in the second quarter valued at about $31,000. Guerra Advisors Inc bought a new position in shares of NIKE during the third quarter worth about $34,000. Gordian Capital Singapore Pte Ltd bought a new position in shares of NIKE during the third quarter worth about $35,000. Accredited Wealth Management LLC raised its position in NIKE by 268.6% in the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after buying an additional 376 shares during the last quarter. Finally, Strive Asset Management LLC acquired a new stake in NIKE in the 3rd quarter valued at approximately $40,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert Holmes Swan purchased 8,691 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was acquired at an average cost of $57.54 per share, with a total value of $500,080.14. Following the acquisition, the director owned 43,293 shares in the company, valued at approximately $2,491,079.22. This trade represents a 25.12% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy D. Cook purchased 50,000 shares of NIKE stock in a transaction that occurred on Monday, December 22nd. The stock was purchased at an average price of $58.97 per share, with a total value of $2,948,500.00. Following the completion of the purchase, the director directly owned 105,480 shares in the company, valued at $6,220,155.60. This trade represents a 90.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 75,079 shares of company stock valued at $4,449,887. 0.80% of the stock is owned by insiders.

NIKE Price Performance

Shares of NKE opened at $53.43 on Thursday. The firm has a market capitalization of $79.10 billion, a PE ratio of 31.43, a PEG ratio of 2.82 and a beta of 1.27. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. The company’s 50-day moving average is $61.94 and its 200-day moving average is $65.12. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $80.17.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.16. The business had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.19 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. NIKE’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, March 2nd. NIKE’s payout ratio is currently 96.47%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Bank of America reduced their price target on NIKE from $84.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, December 19th. DZ Bank reiterated a “buy” rating on shares of NIKE in a report on Friday, December 19th. Needham & Company LLC lowered shares of NIKE from a “buy” rating to a “hold” rating in a research report on Thursday, January 8th. Raymond James Financial restated a “market perform” rating on shares of NIKE in a report on Monday, December 15th. Finally, Daiwa Securities Group decreased their target price on shares of NIKE from $75.00 to $61.00 in a research report on Tuesday, December 23rd. Twenty-three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.90.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).