Forsta AP Fonden Has $16.98 Million Position in NIKE, Inc. (NYSE:NKE)

Key Points

• Forsta AP Fonden reduced its stake in NIKE, Inc. by 6.0% during the first quarter, selling 17,200 shares, leaving it with 267,500 shares valued at approximately $16.98 million.
• Chairman Mark G. Parker sold 110,000 shares at an average price of $72.29, resulting in an 11.55% decrease in his position, retaining 842,361 shares valued at around $60.89 million.
• NIKE recently declared a quarterly dividend of $0.40 per share, representing an annual dividend yield of 2.2%, with the ex-dividend date set for September 2nd.

Forsta AP Fonden lessened its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,500 shares of the footwear maker's stock after selling 17,200 shares during the quarter. Forsta AP Fonden's holdings in NIKE were worth $16,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. NS Partners Ltd lifted its holdings in shares of NIKE by 1.9% during the 1st quarter. NS Partners Ltd now owns 240,295 shares of the footwear maker's stock valued at $15,254,000 after buying an additional 4,403 shares during the last quarter. Bristlecone Advisors LLC lifted its holdings in shares of NIKE by 1.7% during the 1st quarter. Bristlecone Advisors LLC now owns 104,790 shares of the footwear maker's stock valued at $6,652,000 after buying an additional 1,771 shares during the last quarter. Savvy Advisors Inc. lifted its holdings in shares of NIKE by 55.2% during the 1st quarter. Savvy Advisors Inc. now owns 4,706 shares of the footwear maker's stock valued at $299,000 after buying an additional 1,674 shares during the last quarter. Hudson Canyon Capital Management lifted its holdings in shares of NIKE by 16.1% during the 1st quarter. Hudson Canyon Capital Management now owns 24,200 shares of the footwear maker's stock valued at $1,536,000 after buying an additional 3,350 shares during the last quarter. Finally, LaSalle St. Investment Advisors LLC acquired a new stake in shares of NIKE during the 1st quarter valued at about $270,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NKE traded down $0.12 on Monday, reaching $74.07. 6,983,116 shares of the stock traded hands, compared to its average volume of 11,146,925. The stock's 50-day moving average price is $69.70 and its 200-day moving average price is $67.55. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The firm has a market cap of $109.39 billion, a price-to-earnings ratio of 34.29, a P/E/G ratio of 2.70 and a beta of 1.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share 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 firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period in the prior year, the business posted $0.99 earnings per share. The business's revenue was down 11.9% compared to the same quarter last year. Equities analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business 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 $0.40 dividend. 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 is 74.07%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on NKE shares. Hsbc Global Res upgraded NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. Citigroup boosted 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. Barclays boosted their target price on NIKE from $53.00 to $64.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Piper Sandler boosted their target price on NIKE from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, June 27th. Finally, DZ Bank lowered NIKE from a "buy" rating to a "hold" rating and set a $76.00 target price for the company. in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $78.22.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by company 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.