Nordea Investment Management AB Sells 230,620 Shares of NIKE, Inc. $NKE

Key Points

• Nordea Investment Management AB cut its NIKE stake by 14%, selling 230,620 shares in Q4 and now owns 1,418,136 shares (about 0.10% of the company) valued at $88.66 million.
• NIKE CEO Elliott Hill bought 16,388 shares at an average price of $61.10, increasing his position to 241,587 shares (a 7.28% rise); insiders now own roughly 0.80% of the stock.
• Dividend and analyst backdrop: NIKE declared a $0.41 quarterly dividend (annualized $1.64, ~3.1% yield) and the stock has a MarketBeat consensus of "Moderate Buy" with a $73.43 price target.

Nordea Investment Management AB cut its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 14.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,418,136 shares of the footwear maker's stock after selling 230,620 shares during the period. Nordea Investment Management AB owned about 0.10% of NIKE worth $88,662,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of NIKE by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 115,291,199 shares of the footwear maker's stock worth $8,039,255,000 after purchasing an additional 1,467,414 shares in the last quarter. State Street Corp raised its holdings in shares of NIKE by 2.8% during the 2nd quarter. State Street Corp now owns 59,154,159 shares of the footwear maker's stock valued at $4,225,441,000 after buying an additional 1,590,603 shares in the last quarter. Capital World Investors raised its holdings in shares of NIKE by 0.7% during the 3rd quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker's stock valued at $2,945,326,000 after buying an additional 286,615 shares in the last quarter. Invesco Ltd. lifted its position in NIKE by 3.3% in the 3rd quarter. Invesco Ltd. now owns 12,561,334 shares of the footwear maker's stock worth $875,902,000 after buying an additional 404,136 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in NIKE by 42.3% in the third quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker's stock worth $825,501,000 after buying an additional 3,518,666 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Piper Sandler set a $75.00 target price on shares of NIKE and gave the company an "overweight" rating in a report on Friday, December 19th. Berenberg Bank reissued a "neutral" rating and issued a $70.00 price target on shares of NIKE in a research note on Friday, December 19th. Robert W. Baird cut their price target on shares of NIKE from $93.00 to $85.00 and set an "outperform" rating for the company in a research report on Friday, December 19th. Guggenheim reaffirmed a "buy" rating on shares of NIKE in a research note on Wednesday, December 31st. Finally, Telsey Advisory Group lowered their target price on NIKE from $75.00 to $72.00 and set a "market perform" rating for the company in a research note on Friday, December 19th. Twenty-two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.43.

Insider Transactions at NIKE

In other NIKE news, CEO Elliott Hill purchased 16,388 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was bought at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the transaction, the chief executive officer directly owned 241,587 shares in the company, valued at approximately $14,760,965.70. The trade was a 7.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.80% of the stock is currently owned by company insiders.

NIKE Trading Up 0.6%

Shares of NKE opened at $52.69 on Tuesday. NIKE, Inc. has a 1-year low of $52.17 and a 1-year high of $80.17. The firm's 50-day moving average price is $61.18 and its 200-day moving average price is $64.57. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $78.01 billion, a price-to-earnings ratio of 31.00, a PEG ratio of 2.68 and a beta of 1.27.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a $0.41 dividend. The ex-dividend date is Monday, March 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 3.1%. NIKE's dividend payout ratio is 96.47%.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.