Handelsbanken Fonder AB Grows Stock Position in NIKE, Inc. (NYSE:NKE)

Handelsbanken Fonder AB increased its position in shares of NIKE, Inc. (NYSE:NKE) by 2.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 524,145 shares of the footwear maker’s stock after buying an additional 12,020 shares during the period. Handelsbanken Fonder AB’s holdings in NIKE were worth $46,334,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Annapolis Financial Services LLC increased its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the last quarter. True Wealth Design LLC increased its position in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the period. Core Wealth Advisors Inc. lifted its stake in NIKE by 408.5% in the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after buying an additional 241 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in shares of NIKE in the fourth quarter valued at approximately $38,000. Finally, Scarborough Advisors LLC purchased a new position in shares of NIKE during the fourth quarter worth approximately $42,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

NIKE Price Performance

NKE stock traded up $0.15 on Friday, reaching $82.25. The company had a trading volume of 10,342,355 shares, compared to its average volume of 11,783,974. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a market cap of $124.14 billion, a P/E ratio of 22.05, a PEG ratio of 2.30 and a beta of 1.02. The company’s fifty day moving average is $80.90 and its 200 day moving average is $86.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the business posted $0.94 EPS. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. On average, research analysts forecast that NIKE, Inc. will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

Analyst Upgrades and Downgrades

NKE has been the topic of several research reports. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their price objective for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. dropped their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley lifted their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Wells Fargo & Company upped their price target on NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Truist Financial reduced their target price on shares of NIKE from $85.00 to $83.00 and set a “hold” rating for the company in a research note on Wednesday. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.04.

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.