NIKE, Inc. (NYSE:NKE) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden lifted its position in NIKE, Inc. (NYSE:NKE) by 11.3% during the third quarter, HoldingsChannel.com reports. The fund owned 287,600 shares of the footwear maker’s stock after acquiring an additional 29,200 shares during the period. Forsta AP Fonden’s holdings in NIKE were worth $25,424,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in NKE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of NIKE by 126.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 172,074 shares of the footwear maker’s stock worth $15,390,000 after purchasing an additional 96,027 shares during the last quarter. Osborne Partners Capital Management LLC increased its position in NIKE by 0.5% during the third quarter. Osborne Partners Capital Management LLC now owns 106,953 shares of the footwear maker’s stock worth $9,455,000 after purchasing an additional 575 shares during the last quarter. Allworth Financial LP raised its stake in NIKE by 20.9% during the third quarter. Allworth Financial LP now owns 12,431 shares of the footwear maker’s stock worth $1,099,000 after purchasing an additional 2,148 shares during the period. CWC Advisors LLC. purchased a new stake in shares of NIKE in the 3rd quarter valued at approximately $686,000. Finally, Elwood & Goetz Wealth Advisory Group LLC acquired a new stake in shares of NIKE during the 3rd quarter worth approximately $202,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NKE traded down $0.19 during trading on Friday, hitting $78.85. 9,385,379 shares of the stock were exchanged, compared to its average volume of 11,607,228. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a fifty day moving average price of $82.71 and a two-hundred day moving average price of $84.98. The firm has a market capitalization of $118.22 billion, a P/E ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company posted $0.94 EPS. The company’s quarterly revenue was down 10.4% on a year-over-year basis. As a group, sell-side analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 42.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NKE shares. Wedbush cut their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Sanford C. Bernstein decreased their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Piper Sandler reiterated a “neutral” rating and set a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Wells Fargo & Company upped their price objective on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, BMO Capital Markets dropped their target price on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, June 28th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $96.56.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.

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.