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

AIA Group Ltd increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 68.4% during the third quarter, Holdings Channel.com reports. The fund owned 81,689 shares of the footwear maker’s stock after purchasing 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 filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares during the period. Caxton Associates LLP acquired a new stake in shares of NIKE in the first quarter valued at approximately $311,000. United Bank boosted its stake in shares of NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares during the period. Foundations Investment Advisors LLC boosted its stake in shares of NIKE by 3.1% in the second quarter. Foundations Investment Advisors LLC now owns 5,269 shares of the footwear maker’s stock valued at $374,000 after buying an additional 159 shares during the period. Finally, Cetera Investment Advisers grew its position in NIKE by 24.3% during the second quarter. Cetera Investment Advisers now owns 250,803 shares of the footwear maker’s stock worth $17,817,000 after buying an additional 48,953 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

Shares of NYSE:NKE opened at $53.43 on Thursday. NIKE, Inc. has a one year low of $52.28 and a one year high of $80.17. 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 has a market cap of $79.10 billion, a price-to-earnings ratio of 31.43, a PEG ratio of 2.82 and a beta of 1.27. The firm has a 50 day simple moving average of $61.94 and a 200 day simple moving average of $65.12.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 18th. The footwear maker reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.19 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Elliott Hill bought 16,388 shares of the company’s stock in a transaction on Monday, December 29th. The stock was purchased at an average cost of $61.10 per share, for a total transaction of $1,001,306.80. Following the completion of the transaction, the chief executive officer owned 241,587 shares of the company’s stock, valued at $14,760,965.70. This trade represents a 7.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Holmes Swan purchased 8,691 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were purchased at an average cost of $57.54 per share, for a total transaction of $500,080.14. Following the completion of the purchase, the director directly owned 43,293 shares of the company’s stock, valued at approximately $2,491,079.22. This represents a 25.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 75,079 shares of company stock worth $4,449,887 in the last 90 days. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Argus dropped their price objective on NIKE from $85.00 to $70.00 in a report on Tuesday, December 23rd. Piper Sandler set a $75.00 target price on NIKE and gave the stock an “overweight” rating in a report on Friday, December 19th. BNP Paribas Exane decreased their price target on NIKE from $38.00 to $35.00 and set an “underperform” rating on the stock in a research report on Friday, December 19th. Truist Financial set a $69.00 price target on NIKE in a research note on Wednesday, January 14th. Finally, Berenberg Bank reaffirmed a “neutral” rating and set a $70.00 price objective on shares of NIKE in a research report on Friday, December 19th. Twenty-three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $74.90.

NIKE Profile

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).