Swedbank AB Sells 53,675 Shares of NIKE, Inc. (NYSE:NKE)

Swedbank AB decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 926,985 shares of the footwear maker's stock after selling 53,675 shares during the quarter. Swedbank AB owned approximately 0.06% of NIKE worth $70,145,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NKE. Sunbelt Securities Inc. raised its position in NIKE by 5.9% during the second quarter. Sunbelt Securities Inc. now owns 3,615 shares of the footwear maker's stock worth $272,000 after acquiring an additional 203 shares in the last quarter. Quarry LP raised its holdings in shares of NIKE by 55.7% in the 2nd quarter. Quarry LP now owns 1,517 shares of the footwear maker's stock valued at $114,000 after purchasing an additional 543 shares during the period. Regal Investment Advisors LLC raised its holdings in shares of NIKE by 7.1% in the 2nd quarter. Regal Investment Advisors LLC now owns 8,076 shares of the footwear maker's stock valued at $609,000 after purchasing an additional 535 shares during the period. Truist Financial Corp lifted its stake in NIKE by 120.1% in the 2nd quarter. Truist Financial Corp now owns 1,430,625 shares of the footwear maker's stock valued at $107,826,000 after purchasing an additional 780,507 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in NIKE by 6.8% during the second quarter. Cetera Investment Advisers now owns 230,215 shares of the footwear maker's stock worth $17,351,000 after purchasing an additional 14,584 shares during the period. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NKE shares. Morgan Stanley cut their price objective on NIKE from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Friday, December 20th. Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, December 20th. Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a "buy" rating for the company in a research report on Wednesday, October 2nd. Piper Sandler raised NIKE from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $72.00 to $90.00 in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered their price objective on NIKE from $95.00 to $92.00 and set an "overweight" rating on the stock in a research report on Monday, December 16th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average target price of $89.96.

NIKE Trading Up 2.3 %

Shares of NYSE:NKE traded up $1.74 during midday trading on Thursday, hitting $78.32. 4,408,896 shares of the stock were exchanged, compared to its average volume of 11,799,468. The business's 50-day moving average price is $75.55 and its 200 day moving average price is $77.95. NIKE, Inc. has a 12 month low of $70.32 and a 12 month high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a market capitalization of $115.85 billion, a price-to-earnings ratio of 24.14, a P/E/G ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company's revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.03 EPS. Analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.04%. NIKE's payout ratio is presently 49.38%.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The shares were bought at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.10% of the company's stock.

About NIKE

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.