NIKE, Inc. $NKE Shares Bought by Swedbank AB

Key Points

• Swedbank AB increased its holdings in NIKE, Inc. by 2.8% during the first quarter, now owning approximately $60.5 million worth of shares.
• Analysts have varied views on NIKE's stock, with Evercore ISI lowering its price target from $97 to $75, while Piper Sandler raised it from $70 to $80.
• NIKE announced a quarterly dividend of $0.40 per share, resulting in an annualized yield of 2.2%, with a payout ratio of 74.07%.

Swedbank AB lifted its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 2.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 953,011 shares of the footwear maker's stock after buying an additional 26,026 shares during the quarter. Swedbank AB owned approximately 0.06% of NIKE worth $60,497,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Voya Investment Management LLC lifted its position in shares of NIKE by 1.8% in the 1st quarter. Voya Investment Management LLC now owns 1,453,473 shares of the footwear maker's stock worth $92,266,000 after buying an additional 25,481 shares during the last quarter. BROOKFIELD Corp ON lifted its position in shares of NIKE by 36.2% in the 1st quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker's stock worth $41,808,000 after buying an additional 175,000 shares during the last quarter. eCIO Inc. bought a new position in shares of NIKE in the 1st quarter worth about $52,000. Invst LLC bought a new position in shares of NIKE in the 1st quarter worth about $1,038,000. Finally, Modern Wealth Management LLC lifted its position in shares of NIKE by 6.3% in the 1st quarter. Modern Wealth Management LLC now owns 27,212 shares of the footwear maker's stock worth $1,727,000 after buying an additional 1,620 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NKE. Evercore ISI reduced their price target on shares of NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research report on Friday, June 20th. Piper Sandler raised their price target on shares of NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, June 27th. Morgan Stanley raised their price target on shares of NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Finally, Zacks Research upgraded shares of NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.67.

NIKE Trading Down 1.6%

Shares of NYSE:NKE opened at $73.12 on Friday. The company has a market cap of $107.98 billion, a PE ratio of 33.85, a P/E/G ratio of 2.70 and a beta of 1.24. The company's 50-day moving average price is $75.40 and its 200 day moving average price is $67.81. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60.

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

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated 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 transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.80% of the company's stock.

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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