Fjarde AP Fonden Fourth Swedish National Pension Fund Boosts Stock Holdings in NIKE, Inc. $NKE

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in NIKE, Inc. (NYSE:NKE) by 11.6% during the second quarter, Holdings Channel.com reports. The firm owned 312,692 shares of the footwear maker’s stock after purchasing an additional 32,500 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in NIKE were worth $22,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of NKE. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in shares of NIKE by 1.0% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,176 shares of the footwear maker’s stock valued at $1,007,000 after buying an additional 134 shares in the last quarter. Caldwell Sutter Capital Inc. lifted its holdings in NIKE by 6.3% in the second quarter. Caldwell Sutter Capital Inc. now owns 2,390 shares of the footwear maker’s stock valued at $170,000 after acquiring an additional 142 shares during the period. Salomon & Ludwin LLC boosted its position in shares of NIKE by 10.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,575 shares of the footwear maker’s stock worth $120,000 after purchasing an additional 145 shares in the last quarter. Westmount Partners LLC increased its holdings in shares of NIKE by 2.9% in the 2nd quarter. Westmount Partners LLC now owns 5,165 shares of the footwear maker’s stock valued at $367,000 after purchasing an additional 146 shares in the last quarter. Finally, HB Wealth Management LLC lifted its stake in shares of NIKE by 0.3% in the second quarter. HB Wealth Management LLC now owns 52,012 shares of the footwear maker’s stock valued at $3,695,000 after purchasing an additional 147 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Analysts Set New Price Targets

Several brokerages recently weighed in on NKE. Argus raised NIKE to a “buy” rating in a research report on Sunday, July 6th. Royal Bank Of Canada restated an “outperform” rating on shares of NIKE in a report on Friday, October 10th. JPMorgan Chase & Co. boosted their price objective on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Truist Financial reissued a “buy” rating and issued a $85.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Finally, KeyCorp set a $90.00 price target on shares of NIKE and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.21.

NIKE Trading Down 0.9%

NYSE:NKE opened at $68.51 on Tuesday. The stock has a market cap of $101.26 billion, a price-to-earnings ratio of 35.13, a price-to-earnings-growth ratio of 2.55 and a beta of 1.29. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The business’s 50-day simple moving average is $72.20 and its 200 day simple moving average is $68.01.

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

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is 82.05%.

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.