Forsta AP Fonden Has $40.97 Million Position in NIKE, Inc. (NYSE:NKE)

Forsta AP Fonden raised its stake in NIKE, Inc. (NYSE:NKEGet Rating) by 4.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 304,500 shares of the footwear maker’s stock after purchasing an additional 14,000 shares during the period. Forsta AP Fonden’s holdings in NIKE were worth $40,974,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Prestige Wealth Management Group LLC increased its holdings in shares of NIKE by 3.2% in the fourth quarter. Prestige Wealth Management Group LLC now owns 2,292 shares of the footwear maker’s stock valued at $382,000 after purchasing an additional 70 shares during the last quarter. Resources Management Corp CT ADV increased its holdings in shares of NIKE by 0.5% in the fourth quarter. Resources Management Corp CT ADV now owns 15,025 shares of the footwear maker’s stock valued at $2,504,000 after purchasing an additional 71 shares during the last quarter. Cavalier Investments LLC grew its stake in shares of NIKE by 0.7% in the fourth quarter. Cavalier Investments LLC now owns 10,217 shares of the footwear maker’s stock valued at $1,703,000 after acquiring an additional 72 shares in the last quarter. Capital Analysts LLC grew its stake in shares of NIKE by 3.2% in the fourth quarter. Capital Analysts LLC now owns 2,353 shares of the footwear maker’s stock valued at $392,000 after acquiring an additional 72 shares in the last quarter. Finally, Vectors Research Management LLC grew its stake in shares of NIKE by 11.3% in the fourth quarter. Vectors Research Management LLC now owns 708 shares of the footwear maker’s stock valued at $118,000 after acquiring an additional 72 shares in the last quarter. 65.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. Cowen decreased their price target on shares of NIKE from $139.00 to $133.00 and set an “outperform” rating on the stock in a research note on Thursday, June 23rd. JPMorgan Chase & Co. set a $130.00 price target on shares of NIKE in a research note on Wednesday, June 29th. Piper Sandler initiated coverage on shares of NIKE in a research note on Wednesday. They issued a “neutral” rating and a $115.00 price target on the stock. UBS Group decreased their price target on shares of NIKE from $168.00 to $156.00 in a research note on Friday, July 15th. Finally, Seaport Res Ptn downgraded shares of NIKE from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 22nd. Nine research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $139.08.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Monique S. Matheson sold 30,000 shares of the stock in a transaction that occurred on Thursday, July 7th. The shares were sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the completion of the sale, the executive vice president now owns 60,330 shares of the company’s stock, valued at approximately $6,466,772.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Monique S. Matheson sold 19,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the completion of the sale, the executive vice president now owns 80,355 shares of the company’s stock, valued at approximately $8,312,724.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Monique S. Matheson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $107.19, for a total transaction of $3,215,700.00. Following the sale, the executive vice president now directly owns 60,330 shares of the company’s stock, valued at approximately $6,466,772.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,735 shares of company stock valued at $7,944,215. 0.40% of the stock is currently owned by company insiders.

NIKE Trading Down 0.8 %

NYSE NKE traded down $0.87 during trading hours on Friday, reaching $113.61. The company’s stock had a trading volume of 185,583 shares, compared to its average volume of 6,454,845. The firm has a fifty day simple moving average of $110.39 and a 200-day simple moving average of $123.70. The stock has a market cap of $178.20 billion, a P/E ratio of 30.15, a P/E/G ratio of 2.40 and a beta of 1.02. NIKE, Inc. has a 52 week low of $99.53 and a 52 week high of $179.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.63 and a quick ratio of 1.84.

NIKE (NYSE:NKEGet Rating) last issued its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $12.10 billion. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business earned $0.93 EPS. Equities analysts forecast that NIKE, Inc. will post 3.82 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.07%. NIKE’s dividend payout ratio is presently 32.45%.

NIKE announced that its Board of Directors has approved a stock repurchase program on Monday, June 27th that authorizes the company to buyback $18.00 billion in shares. This buyback authorization authorizes the footwear maker to buy up to 11% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

About NIKE

(Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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