Nordea Investment Management AB Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Nordea Investment Management AB reduced its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,748,312 shares of the footwear maker's stock after selling 504,288 shares during the period. Nordea Investment Management AB owned approximately 0.32% of NIKE worth $361,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp raised its position in shares of NIKE by 3.3% in the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker's stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of NIKE by 5.1% during the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker's stock worth $2,425,886,000 after buying an additional 1,343,093 shares during the period. Geode Capital Management LLC grew its holdings in shares of NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker's stock valued at $2,204,451,000 after buying an additional 251,411 shares during the last quarter. Legal & General Group Plc increased its position in shares of NIKE by 5.5% in the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker's stock valued at $832,785,000 after acquiring an additional 571,544 shares during the period. Finally, Fisher Asset Management LLC raised its stake in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker's stock worth $910,801,000 after acquiring an additional 583,207 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. TD Cowen reduced their price objective on NIKE from $78.00 to $73.00 and set a "hold" rating for the company in a research note on Monday, November 18th. Piper Sandler reaffirmed a "neutral" rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Daiwa America cut NIKE from a "moderate buy" rating to a "hold" rating in a report on Wednesday, September 11th. Truist Financial decreased their price target on NIKE from $97.00 to $90.00 and set a "buy" rating for the company in a report on Friday, December 20th. Finally, DA Davidson raised shares of NIKE to a "strong-buy" rating in a report on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $89.58.

Insider Buying and Selling at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the business's stock in a transaction dated Friday, December 27th. The shares were acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company's stock.

NIKE Stock Down 1.7 %

Shares of NYSE:NKE traded down $1.26 during trading on Monday, hitting $72.05. The company's stock had a trading volume of 14,914,331 shares, compared to its average volume of 11,958,133. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $107.43. The business has a 50 day moving average price of $76.91 and a two-hundred day moving average price of $79.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The company has a market capitalization of $108.03 billion, a PE ratio of 20.64, a P/E/G ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts' expectations of $12.11 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. As a group, research analysts expect that NIKE, Inc. will post 2.72 EPS for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.40 dividend. This is a boost from NIKE's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.22%. NIKE's dividend payout ratio (DPR) is 49.38%.

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.