Avanza Fonder AB Cuts Holdings in NIKE, Inc. (NYSE:NKE)

Avanza Fonder AB decreased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 8.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,083 shares of the footwear maker's stock after selling 10,099 shares during the quarter. Avanza Fonder AB's holdings in NIKE were worth $7,086,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of NKE. Renaissance Technologies LLC lifted its stake in NIKE by 1,302.7% during the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after acquiring an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC increased its holdings in NIKE by 40.9% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock valued at $23,458,000 after buying an additional 90,000 shares in the last quarter. Janus Henderson Group PLC boosted its position in NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after purchasing an additional 463,470 shares in the last quarter. Markel Group Inc. grew its stake in NIKE by 0.8% in the 4th quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock valued at $32,720,000 after acquiring an additional 3,500 shares during the period. Finally, Evergreen Capital Management LLC increased its stake in shares of NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after purchasing an additional 7,536 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on NKE shares. Needham & Company LLC reduced their price objective on NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Cfra Research upgraded NIKE to a "moderate buy" rating in a research report on Friday, March 21st. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Bank of America cut their price objective on NIKE from $90.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, Truist Financial reduced their target price on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $80.26.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company's stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

NYSE NKE traded up $1.99 during trading on Tuesday, reaching $63.90. The company's stock had a trading volume of 15,265,176 shares, compared to its average volume of 15,092,670. The business's fifty day moving average price is $58.80 and its 200-day moving average price is $69.04. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $94.51 billion, a price-to-earnings ratio of 19.72, a P/E/G ratio of 2.52 and a beta of 1.21.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion for the quarter, compared to analysts' expectations of $11.02 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 53.16%.

NIKE 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.