AMF Tjanstepension AB Takes $21.17 Million Position in NIKE, Inc. $NKE

Key Points

• AMF Tjanstepension AB opened a new position in Nike during the fourth quarter, buying 332,304 shares valued at about $21.17 million.
• Several other institutional investors also added to or initiated Nike holdings, and 64.25% of the stock is now owned by institutions and hedge funds.
• Nike insiders have been buying shares too: CEO Elliott Hill and Director Robert Holmes Swan both made purchases, while analysts currently keep the stock at a Hold consensus with an average price target of $62.04.

AMF Tjanstepension AB bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 332,304 shares of the footwear maker's stock, valued at approximately $21,171,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Markets Cayman LP bought a new position in shares of NIKE in the 3rd quarter worth $34,200,000. PFA Pension Forsikringsaktieselskab bought a new position in NIKE during the fourth quarter worth about $43,188,000. Strive Asset Management LLC bought a new position in NIKE during the third quarter worth about $1,743,000. Nicholas Company Inc. lifted its holdings in NIKE by 33.3% during the fourth quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker's stock worth $7,878,000 after acquiring an additional 30,890 shares in the last quarter. Finally, Park National Corp OH lifted its holdings in NIKE by 81.5% during the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker's stock worth $27,463,000 after acquiring an additional 193,514 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Elliott Hill bought 23,660 shares of the company's stock in a transaction that occurred on Monday, April 13th. The shares were acquired at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer owned 265,247 shares of the company's stock, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan bought 11,781 shares of the company's stock in a transaction that occurred on Tuesday, April 7th. The shares were bought at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the acquisition, the director directly owned 55,074 shares of the company's stock, valued at $2,337,340.56. This represents a 27.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 64,441 shares of company stock worth $2,734,204. Insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

NKE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $54.00 to $51.00 and set a "hold" rating on the stock in a report on Wednesday, April 1st. UBS Group reduced their target price on NIKE from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Wednesday, April 1st. HSBC lowered NIKE from a "buy" rating to a "hold" rating and reduced their target price for the stock from $90.00 to $48.00 in a report on Monday, April 13th. China Renaissance reduced their target price on NIKE from $74.60 to $50.30 and set a "hold" rating on the stock in a report on Thursday, April 2nd. Finally, Guggenheim dropped their price target on NIKE from $77.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $62.04.

NIKE Stock Up 1.6%

Shares of NKE stock opened at $42.54 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The firm's fifty day moving average price is $47.59 and its two-hundred day moving average price is $57.86. The firm has a market capitalization of $62.99 billion, a P/E ratio of 28.17, a PEG ratio of 2.22 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the business earned $0.54 EPS. The company's revenue was up .1% compared to the same quarter last year. On average, equities analysts predict that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, June 1st. NIKE's dividend payout ratio is presently 108.61%.

NIKE Company 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).

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