NIKE, Inc. (NYSE:NKE) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 514,903 shares of the footwear maker's stock after selling 14,035 shares during the period. Handelsbanken Fonder AB's holdings in NIKE were worth $32,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JNBA Financial Advisors raised its position in shares of NIKE by 1.3% during the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker's stock valued at $760,000 after buying an additional 131 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker's stock valued at $1,547,000 after purchasing an additional 136 shares in the last quarter. Elgethun Capital Management grew its holdings in shares of NIKE by 13.7% in the fourth quarter. Elgethun Capital Management now owns 1,236 shares of the footwear maker's stock valued at $94,000 after purchasing an additional 149 shares in the last quarter. Game Plan Financial Advisors LLC grew its holdings in shares of NIKE by 11.1% in the fourth quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker's stock valued at $114,000 after purchasing an additional 150 shares in the last quarter. Finally, AlTi Global Inc. grew its holdings in shares of NIKE by 0.4% in the fourth quarter. AlTi Global Inc. now owns 36,996 shares of the footwear maker's stock valued at $2,813,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction on Friday, April 4th. The stock was acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares of the company's stock, valued at $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Bank of America lowered their price objective on shares of NIKE from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Morgan Stanley lowered their price objective on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a research note on Friday, March 21st. Williams Trading cut their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, April 21st. Finally, Truist Financial cut their price objective on shares of NIKE from $90.00 to $82.00 and set a "buy" rating on the stock in a report on Friday, March 21st. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and an average target price of $80.26.

NIKE Stock Performance

NIKE stock traded down $0.30 during mid-day trading on Thursday, hitting $62.81. The company had a trading volume of 9,823,572 shares, compared to its average volume of 15,136,668. The company's fifty day moving average is $59.23 and its 200-day moving average is $68.85. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $92.90 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 2.52 and a beta of 1.21. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. Equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.55%. NIKE's payout ratio is currently 53.16%.

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.