Nordea Investment Management AB Reduces Stock Position in NIKE, Inc. $NKE

Key Points

• Nordea Investment Management AB significantly reduced its stake in NIKE, Inc. by 56.9% in the second quarter, now holding 1,879,181 shares, valued at approximately $133.7 million.
• Analysts have mixed opinions on NIKE's stock, with a consensus rating of “Moderate Buy” and a target price of $82.21, as multiple firms recently adjusted their ratings and target prices.
• NIKE recently announced a quarterly dividend of $0.40 per share, representing a yield of 2.4% with a payout ratio of 82.05%.

Nordea Investment Management AB lowered its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 56.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,879,181 shares of the footwear maker's stock after selling 2,483,495 shares during the period. Nordea Investment Management AB owned about 0.13% of NIKE worth $133,685,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Stone House Investment Management LLC purchased a new stake in shares of NIKE in the 1st quarter worth about $25,000. Mascoma Wealth Management LLC purchased a new stake in shares of NIKE in the 2nd quarter worth about $26,000. Halbert Hargrove Global Advisors LLC lifted its position in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after purchasing an additional 362 shares during the period. Saudi Central Bank purchased a new stake in shares of NIKE in the 1st quarter worth about $30,000. Finally, Matrix Trust Co lifted its position in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NKE shares. Sanford C. Bernstein reaffirmed a "buy" rating and issued a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. Zacks Research raised shares of NIKE from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Robert W. Baird raised their target price on shares of NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. The Goldman Sachs Group set a $85.00 price target on shares of NIKE and gave the company a "buy" rating in a research report on Thursday, September 25th. Finally, Citigroup raised shares of NIKE from a "neutral" rating to a "positive" rating in a research report on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, NIKE has an average rating of "Moderate Buy" and a consensus target price of $82.21.

NIKE Trading Up 0.9%

Shares of NYSE NKE opened at $67.46 on Friday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $83.95. The stock has a market cap of $99.72 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.46 and a beta of 1.29. The firm has a 50-day moving average of $73.10 and a 200 day moving average of $67.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE's revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 82.05%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the firm's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the sale, the executive vice president owned 29,396 shares of the company's stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

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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