KLP Kapitalforvaltning AS Sells 32,900 Shares of NIKE, Inc. (NYSE:NKE)

KLP Kapitalforvaltning AS decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 434,958 shares of the footwear maker's stock after selling 32,900 shares during the quarter. KLP Kapitalforvaltning AS's holdings in NIKE were worth $27,757,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NKE. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $28,000. EnRich Financial Partners LLC lifted its position in shares of NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock worth $31,000 after acquiring an additional 273 shares during the period. Roxbury Financial LLC lifted its position in shares of NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock worth $37,000 after acquiring an additional 201 shares during the period. Ritter Daniher Financial Advisory LLC DE lifted its position in shares of NIKE by 95.1% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker's stock worth $39,000 after acquiring an additional 250 shares during the period. Finally, Putney Financial Group LLC bought a new stake in shares of NIKE in the 4th quarter worth approximately $40,000. Institutional investors own 64.25% of the company's stock.

NIKE Trading Up 1.1%

NKE traded up $0.85 during midday trading on Friday, reaching $76.27. 7,148,164 shares of the company were exchanged, compared to its average volume of 19,919,176. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a one year low of $52.28 and a one year high of $90.62. The stock has a market capitalization of $112.81 billion, a P/E ratio of 35.31, a PEG ratio of 2.80 and a beta of 1.25. The stock's 50-day simple moving average is $66.81 and its 200 day simple moving average is $67.32.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 annualized dividend and a yield of 2.10%. NIKE's dividend payout ratio is presently 74.07%.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. Evercore ISI reduced their price objective on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. Barclays raised their price objective on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price for the company in a report on Friday, June 27th. Berenberg Bank assumed coverage on NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 target price for the company. Finally, Citigroup increased their target price on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.15.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares in the company, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company's stock.

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.