Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 17,300 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in NIKE, Inc. by 6.6% during the first quarter, acquiring an additional 17,300 shares, bringing its total holdings to 280,192 shares valued at $17,787,000.
• NIKE's stock experienced a 3.2% increase, with current trading around $77.28, and the company maintains a market capitalization of $114.13 billion.
• The company has announced a quarterly dividend of $0.40 per share, with an annual dividend yield of 2.1% and a payout ratio of 74.07%.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in NIKE, Inc. (NYSE:NKE - Free Report) by 6.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,192 shares of the footwear maker's stock after purchasing an additional 17,300 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in NIKE were worth $17,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position 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 acquiring an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after acquiring an additional 17,888 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of NIKE during the fourth quarter worth $358,000. Advisors Capital Management LLC boosted its position in shares of NIKE by 5.0% during the fourth quarter. Advisors Capital Management LLC now owns 4,234 shares of the footwear maker's stock worth $320,000 after acquiring an additional 202 shares during the last quarter. Finally, SageView Advisory Group LLC bought a new position in shares of NIKE during the fourth quarter worth $340,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 3.2%

NYSE NKE opened at $77.28 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The company has a market capitalization of $114.13 billion, a price-to-earnings ratio of 35.78, a price-to-earnings-growth ratio of 2.72 and a beta of 1.27. The company's 50-day simple moving average is $70.49 and its two-hundred day simple moving average is $67.67. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.1%. NIKE's payout ratio is presently 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NKE. Truist Financial dropped their target price on shares of NIKE from $82.00 to $73.00 and set a "buy" rating for the company in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating for the company in a research report on Friday, June 20th. Royal Bank Of Canada dropped their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Jefferies Financial Group restated a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Finally, Robert W. Baird increased their price objective on shares of NIKE from $80.00 to $88.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $78.22.

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.

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