AMF Tjanstepension AB Acquires Shares of 332,304 NIKE, Inc. $NKE

AMF Tjanstepension AB acquired a new stake in NIKE, Inc. (NYSE:NKE) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 332,304 shares of the footwear maker’s stock, valued at approximately $21,171,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Main Street Financial Solutions LLC raised its stake in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after buying an additional 139 shares during the period. Diligent Investors LLC raised its stake in NIKE by 4.3% in the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after buying an additional 153 shares during the period. CVA Family Office LLC raised its stake in NIKE by 8.0% in the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock valued at $147,000 after buying an additional 156 shares during the period. Naples Global Advisors LLC raised its stake in NIKE by 1.9% in the third quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker’s stock valued at $597,000 after buying an additional 159 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in NIKE by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after buying an additional 163 shares during the period. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of several research analyst reports. Truist Financial dropped their price objective on NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings lowered NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. China Renaissance dropped their price objective on NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research note on Thursday, April 2nd. Stifel Nicolaus dropped their price objective on NIKE from $65.00 to $56.00 and set a “hold” rating on the stock in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $52.00 price objective (down from $76.00) on shares of NIKE in a research note on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Hold” and an average target price of $62.04.

Insider Buying and Selling

In related news, Director Timothy D. Cook purchased 25,000 shares of NIKE stock in a transaction that occurred on Friday, April 10th. The shares were acquired at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the transaction, the director directly owned 130,480 shares of the company’s stock, valued at $5,536,266.40. This represents a 23.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Elliott Hill purchased 23,660 shares of NIKE stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the transaction, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by corporate insiders.

NIKE Price Performance

NIKE stock opened at $42.54 on Tuesday. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The stock’s 50 day moving average is $47.59 and its 200-day moving average is $57.86. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $62.99 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.22 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. Equities research analysts expect that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.9%. NIKE’s dividend payout ratio is currently 108.61%.

NIKE Company Profile

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).