NIKE, Inc. $NKE Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in NIKE, Inc. (NYSE:NKE) by 59.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 433,442 shares of the footwear maker’s stock after buying an additional 160,950 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in NIKE were worth $22,894,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Elevation Point Wealth Partners LLC increased its stake in shares of NIKE by 564.9% during the first quarter. Elevation Point Wealth Partners LLC now owns 78,190 shares of the footwear maker’s stock worth $4,139,000 after buying an additional 66,431 shares during the period. Platform Technology Partners lifted its stake in NIKE by 11.2% in the first quarter. Platform Technology Partners now owns 30,974 shares of the footwear maker’s stock worth $1,636,000 after acquiring an additional 3,124 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its holdings in NIKE by 2,484.4% during the 1st quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 114,022 shares of the footwear maker’s stock worth $6,023,000 after acquiring an additional 109,610 shares in the last quarter. Peregrine Asset Advisers Inc. grew its holdings in NIKE by 17.2% during the 1st quarter. Peregrine Asset Advisers Inc. now owns 16,467 shares of the footwear maker’s stock worth $849,000 after acquiring an additional 2,422 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC increased its position in shares of NIKE by 24.3% in the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 28,343 shares of the footwear maker’s stock valued at $1,497,000 after purchasing an additional 5,547 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Trading Up 0.1%

Shares of NIKE stock opened at $44.12 on Friday. The company has a fifty day simple moving average of $43.86 and a 200-day simple moving average of $53.16. NIKE, Inc. has a 12-month low of $40.00 and a 12-month high of $80.17. The company has a current ratio of 1.96, a quick ratio of 1.45 and a debt-to-equity ratio of 0.40. The stock has a market cap of $65.34 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 2.49 and a beta of 1.12.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same period last year, the firm posted $0.14 EPS. The company’s revenue was down 1.1% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 1.8 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Jefferies Financial Group reduced their price objective on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday. China Renaissance lowered their target price on shares of NIKE from $74.60 to $50.30 and set a “hold” rating for the company in a research note on Thursday, April 2nd. Oppenheimer dropped their target price on NIKE to $60.00 and set an “outperform” rating on the stock in a report on Friday, June 26th. Evercore set a $46.00 price target on NIKE and gave the company an “in-line” rating in a research note on Tuesday, June 23rd. Finally, Truist Financial decreased their price target on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Fourteen research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $55.42.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s fiscal Q4 results beat analyst expectations, with revenue and EPS coming in ahead of forecasts, which has helped support the shares and reinforced hopes that the turnaround is starting to take hold. Stock Market Today, July 1: Nike Jumps After Quarterly Results Beat Analyst Estimates
• Positive Sentiment: Several commentaries argue the recent selloff may have gone too far, with some analysts and market watchers calling NIKE a rebound candidate after a difficult year. Prediction: Nike Stock Set for 25% Rebound After Brutal Year
• Neutral Sentiment: Reports highlight that NIKE’s digital sales fell while the company continues shifting its mix between direct-to-consumer and wholesale channels, suggesting the turnaround is still incomplete. Nike Digital Drops 12% as Brands Rebalance D2C and Wholesale
• Negative Sentiment: Barclays reportedly cut its price target on NIKE, signaling lower near-term expectations from one of the long-time bullish banks on the name. Barclays cuts Nike stock price target from $67 to $52
• Negative Sentiment: 7-Eleven filed a trademark lawsuit accusing NIKE of copying branding elements in an upcoming Air Max 95 design, adding legal overhang and potential distraction for the company. 7-Eleven sues Nike over alleged Air Max 95 design infringing brand colors

Insider Buying and Selling at NIKE

In other news, Director Timothy D. Cook bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the transaction, the director directly owned 130,480 shares in the company, valued at $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the purchase, the director directly owned 41,022 shares in the company, valued at $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have acquired 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by insiders.

About NIKE

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).