KLP Kapitalforvaltning AS Raises Stake in NIKE, Inc. $NKE

Key Points

• KLP Kapitalforvaltning AS increased its stake in NIKE, Inc. by 3.5%, owning 450,158 shares valued at approximately $32 million.
• NIKE reported a quarterly earnings per share of $0.49, exceeding analysts' expectations, and achieved revenues of $11.72 billion, slightly above forecasted figures.
• The company declared a quarterly dividend of $0.40, representing a yield of 2.3% and indicating a payout ratio of 82.05%.

KLP Kapitalforvaltning AS raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,158 shares of the footwear maker's stock after acquiring an additional 15,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in NIKE were worth $32,127,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Caldwell Sutter Capital Inc. raised its holdings in NIKE by 6.3% during the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker's stock worth $170,000 after purchasing an additional 142 shares in the last quarter. Westmount Partners LLC grew its position in shares of NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker's stock valued at $367,000 after buying an additional 146 shares during the last quarter. HB Wealth Management LLC grew its position in shares of NIKE by 0.3% in the 2nd quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker's stock valued at $3,695,000 after buying an additional 147 shares during the last quarter. Matrix Trust Co grew its position in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock valued at $31,000 after buying an additional 153 shares during the last quarter. Finally, Summit Financial Strategies Inc. grew its position in shares of NIKE by 3.8% in the 2nd quarter. Summit Financial Strategies Inc. now owns 4,270 shares of the footwear maker's stock valued at $303,000 after buying an additional 155 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NIKE stock opened at $69.03 on Wednesday. The firm's fifty day simple moving average is $74.28 and its 200-day simple moving average is $67.28. The stock has a market capitalization of $101.95 billion, a price-to-earnings ratio of 35.40, a PEG ratio of 2.61 and a beta of 1.29. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $84.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE's revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 EPS. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE's payout ratio is currently 82.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Bank of America increased their target price on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the company a "buy" rating in a research report on Thursday, September 25th. Truist Financial reaffirmed a "buy" rating and issued a $85.00 target price on shares of NIKE in a research report on Wednesday, October 1st. UBS Group set a $71.00 target price on shares of NIKE and gave the company a "neutral" rating in a research report on Friday, September 19th. Finally, Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Three research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus price target of $81.57.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the business's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,378 shares of company stock worth $14,794,264 over the last three months. 0.80% of the stock is currently owned by corporate insiders.

NIKE Company 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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