Swedbank AB Purchases 26,026 Shares of NIKE, Inc. $NKE

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 increased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 2.8% during the first quarter, according to 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 0.06% of NIKE worth $60,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker's stock worth $7,182,831,000 after buying an additional 4,957,494 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock worth $2,880,971,000 after buying an additional 9,043,180 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of NIKE by 344.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock worth $1,694,842,000 after buying an additional 20,688,013 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of NIKE by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker's stock worth $1,332,331,000 after buying an additional 620,214 shares during the last quarter. Finally, Flossbach Von Storch SE lifted its holdings in NIKE by 24.0% during the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker's stock valued at $652,995,000 after purchasing an additional 1,988,547 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction that occurred 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 transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.80% of the stock is owned by insiders.

NIKE Price Performance

NYSE NKE traded down $0.39 on Thursday, reaching $71.93. 7,052,387 shares of the company's stock traded hands, compared to its average volume of 16,036,908. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The stock has a 50-day simple moving average of $75.27 and a 200 day simple moving average of $67.66. The stock has a market cap of $106.23 billion, a PE ratio of 33.31, a P/E/G ratio of 2.64 and a beta of 1.24.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly 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 analysts' expectations of $10.69 billion. During the same period last year, the business earned $0.99 earnings per share. The business's quarterly revenue was down 11.9% on a year-over-year basis. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have commented on NKE shares. Cowen raised shares of NIKE from a "hold" rating to a "buy" rating in a report on Wednesday, September 10th. Citigroup upped their price objective on shares of NIKE from $68.00 to $74.00 and gave the company a "neutral" rating in a report on Tuesday. JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $64.00 to $93.00 in a report on Monday, July 28th. Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. Finally, DZ Bank downgraded shares of NIKE from a "buy" rating to a "hold" rating and set a $76.00 price objective on the stock. in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $79.85.

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.