Swedbank AB Has $86.69 Million Stock Position in NIKE, Inc. (NYSE:NKE)

Swedbank AB grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.2% during the 3rd quarter, Holdings Channel reports. The firm owned 980,660 shares of the footwear maker’s stock after buying an additional 11,877 shares during the period. Swedbank AB’s holdings in NIKE were worth $86,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ascent Wealth Partners LLC boosted its stake in shares of NIKE by 0.4% during the 1st quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after acquiring an additional 115 shares during the period. Condor Capital Management raised its holdings in shares of NIKE by 0.4% during the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after buying an additional 116 shares in the last quarter. Lodestone Wealth Management LLC raised its holdings in shares of NIKE by 5.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock worth $211,000 after buying an additional 118 shares in the last quarter. Nvwm LLC raised its holdings in shares of NIKE by 1.0% during the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock worth $1,091,000 after buying an additional 120 shares in the last quarter. Finally, Pitcairn Co. raised its holdings in shares of NIKE by 0.5% during the 1st quarter. Pitcairn Co. now owns 29,067 shares of the footwear maker’s stock worth $2,732,000 after buying an additional 132 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on NKE shares. Raymond James reiterated a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. JPMorgan Chase & Co. cut their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Evercore ISI cut their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Guggenheim cut their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

NIKE Stock Up 0.7 %

Shares of NYSE:NKE opened at $82.14 on Wednesday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a market cap of $123.98 billion, a PE ratio of 22.02, a P/E/G ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock’s 50-day moving average is $82.05 and its 200 day moving average is $85.41.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm posted $0.94 EPS. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Sell-side analysts anticipate that NIKE, Inc. will post 2.8 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.80%. NIKE’s dividend payout ratio is presently 39.68%.

NIKE Company 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.