Lansforsakringar Fondforvaltning AB publ Sells 64,718 Shares of NIKE, Inc. $NKE

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its holdings in NIKE, Inc. by 14.3%, now owning 387,755 shares valued at approximately $24.6 million after selling 64,718 shares in the 1st quarter.
• NIKE's stock is currently rated as a "Moderate Buy" by analysts, with an average price target of $78.22, despite recent upgrades and downgrades from several investment firms.
• The company announced a quarterly dividend of $0.40, which will be paid on October 1st, reflecting an annualized yield of 2.1%.

Lansforsakringar Fondforvaltning AB publ cut its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 14.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 387,755 shares of the footwear maker's stock after selling 64,718 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in NIKE were worth $24,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NKE. Brighton Jones LLC raised its position in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after buying an additional 160,980 shares during the period. Bank Pictet & Cie Europe AG raised its position in NIKE by 10.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after buying an additional 17,888 shares during the period. AQR Capital Management LLC raised its position in NIKE by 46.0% during the fourth quarter. AQR Capital Management LLC now owns 116,428 shares of the footwear maker's stock valued at $8,810,000 after buying an additional 36,673 shares during the period. Voleon Capital Management LP acquired a new position in NIKE during the fourth quarter valued at $1,814,000. Finally, Triumph Capital Management acquired a new position in NIKE during the fourth quarter valued at $215,000. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 0.7%

Shares of NYSE NKE traded down $0.58 during mid-day trading on Friday, reaching $77.34. 14,203,244 shares of the company traded hands, compared to its average volume of 8,854,530. 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 stock has a market cap of $114.22 billion, a PE ratio of 35.81, a price-to-earnings-growth ratio of 2.81 and a beta of 1.24. The company's fifty day moving average is $74.32 and its two-hundred day moving average is $67.86. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data 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 return on equity of 23.33% and a net margin of 6.95%.The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the firm posted $0.99 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.40 per share. The ex-dividend date 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 74.07%.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Needham & Company LLC upped their price target on NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 27th. Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Wells Fargo & Company boosted their target price on NIKE from $55.00 to $60.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada lowered their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $78.22.

About NIKE

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.