Nordea Investment Management AB Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Nordea Investment Management AB raised its holdings in NIKE, Inc. (NYSE:NKE) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,883,528 shares of the footwear maker’s stock after acquiring an additional 164,186 shares during the quarter. Nordea Investment Management AB owned approximately 0.25% of NIKE worth $430,916,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. America First Investment Advisors LLC purchased a new position in NIKE in the 1st quarter worth about $27,000. Tucker Asset Management LLC purchased a new position in shares of NIKE during the first quarter worth approximately $29,000. Financial Freedom LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $29,000. Ruedi Wealth Management Inc. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of NIKE in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 63.42% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE traded up $0.55 during midday trading on Friday, reaching $97.74. The company’s stock had a trading volume of 1,634,752 shares, compared to its average volume of 6,882,268. The firm has a market capitalization of $149.54 billion, a PE ratio of 30.30, a P/E/G ratio of 1.70 and a beta of 1.12. The stock has a fifty day moving average of $105.02 and a 200 day moving average of $113.02. NIKE, Inc. has a twelve month low of $82.22 and a twelve month high of $131.31. The company has a quick ratio of 1.81, a current ratio of 2.72 and a debt-to-equity ratio of 0.64.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.02). The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.58 billion. NIKE had a return on equity of 34.01% and a net margin of 9.90%. NIKE’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 3.71 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date is Friday, September 1st. NIKE’s payout ratio is presently 42.11%.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $108.58, for a total value of $11,943,800.00. Following the completion of the transaction, the chairman now directly owns 1,334,781 shares in the company, valued at approximately $144,930,520.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Johanna Nielsen sold 1,706 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $107.00, for a total transaction of $182,542.00. Following the sale, the vice president now directly owns 954 shares of the company’s stock, valued at approximately $102,078. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $108.58, for a total value of $11,943,800.00. Following the completion of the transaction, the chairman now owns 1,334,781 shares of the company’s stock, valued at approximately $144,930,520.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,251 shares of company stock worth $17,063,257. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $135.00 target price on shares of NIKE in a research report on Friday, June 30th. StockNews.com assumed coverage on NIKE in a report on Thursday, August 17th. They issued a “hold” rating for the company. Williams Trading dropped their target price on shares of NIKE from $95.00 to $91.00 and set a “sell” rating on the stock in a report on Thursday, September 7th. UBS Group boosted their price target on shares of NIKE from $145.00 to $150.00 in a report on Friday, June 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of NIKE from $133.00 to $126.00 in a research note on Friday, June 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $130.28.

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.