Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 9,000 Shares of NIKE, Inc. (NYSE:NKE)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 262,892 shares of the footwear maker’s stock after selling 9,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in NIKE were worth $19,893,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter worth about $28,000. Caitlin John LLC boosted its holdings in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America purchased a new position in NIKE in the third quarter valued at about $30,000. Roxbury Financial LLC purchased a new position in NIKE in the fourth quarter valued at about $30,000. Finally, Bank of Jackson Hole Trust purchased a new position in NIKE in the fourth quarter valued at about $43,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 0.9 %

Shares of NKE opened at $76.50 on Friday. The firm’s 50-day moving average price is $74.31 and its 200-day moving average price is $78.13. The firm has a market capitalization of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.52 and a beta of 1.01. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $68.62 and a 1-year high of $106.62.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the company posted $1.03 EPS. NIKE’s revenue was down 7.7% on a year-over-year basis. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research analyst reports. Evercore ISI dropped their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Stifel Nicolaus lowered their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday, December 16th. Finally, Royal Bank of Canada lowered their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 7th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.62.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. bought 2,500 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by corporate insiders.

NIKE 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.