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

Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 59.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 433,442 shares of the footwear maker’s stock after purchasing an additional 160,950 shares during the period. 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 also recently bought and sold shares of the business. J. Stern & Co. LLP raised its holdings in shares of NIKE by 49,010.4% in the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after buying an additional 47,956,692 shares during the last quarter. Norges Bank purchased a new position in shares of NIKE during the fourth quarter worth about $829,956,000. Harris Associates L P purchased a new position in shares of NIKE during the second quarter worth about $621,525,000. Capital World Investors increased its position in NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. increased its position in NIKE by 2,492.4% in the 4th quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock valued at $311,111,000 after acquiring an additional 4,694,859 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE NKE opened at $44.12 on Friday. The firm has a market capitalization of $65.34 billion, a P/E ratio of 21.11, a PEG ratio of 2.49 and a beta of 1.12. NIKE, Inc. has a one year low of $40.00 and a one year high of $80.17. The company’s fifty day moving average is $43.86 and its two-hundred day moving average is $53.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.45 and a current ratio of 1.96.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (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 business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter last year, the firm posted $0.14 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 1.8 EPS for the current fiscal year.

NIKE Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have weighed in on NKE. Truist Financial decreased their price objective on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. The Goldman Sachs Group dropped their target price on NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Wednesday. Citigroup cut their price target on NIKE from $47.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday. Piper Sandler decreased their price target on NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Berenberg Bank set a $49.00 price objective on shares of NIKE in a research report on Friday. Fourteen research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.42.

Insider Buying and Selling

In related news, Director Timothy D. Cook purchased 25,000 shares of NIKE stock in a transaction dated Friday, April 10th. The stock was bought at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the transaction, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Elliott Hill purchased 23,660 shares of NIKE stock in a transaction dated Monday, April 13th. The shares were bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 64,441 shares of company stock valued at $2,734,204 in the last 90 days. 0.80% of the stock is owned by corporate insiders.

Key NIKE News

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

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).