Swedbank AB Has $86.69 Million Position in NIKE, Inc. (NYSE:NKE)

Swedbank AB lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 980,660 shares of the footwear maker’s stock after purchasing an additional 11,877 shares during the period. Swedbank AB’s holdings in NIKE were worth $86,690,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. ING Groep NV bought a new position in shares of NIKE in the third quarter valued at about $29,628,000. Cordatus Wealth Management LLC boosted its holdings in shares of NIKE by 19.5% during the third quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock worth $3,669,000 after acquiring an additional 6,778 shares during the period. Bristlecone Advisors LLC boosted its holdings in shares of NIKE by 14.3% during the third quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock worth $8,267,000 after acquiring an additional 11,665 shares during the period. WoodTrust Financial Corp grew its position in shares of NIKE by 19.9% in the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock valued at $8,689,000 after purchasing an additional 16,303 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of NIKE by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,602,534 shares of the footwear maker’s stock worth $760,716,000 after purchasing an additional 117,187 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NKE stock opened at $77.40 on Monday. The company has a market capitalization of $116.05 billion, a P/E ratio of 22.18, a PEG ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a fifty day moving average price of $80.51 and a 200-day moving average price of $82.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last released its quarterly 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. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. As a group, equities analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a yield of 2.07%. NIKE’s dividend payout ratio (DPR) is presently 42.41%.

Analyst Ratings Changes

Several research firms recently issued reports on NKE. Wells Fargo & Company boosted their price target on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Guggenheim decreased their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Needham & Company LLC began coverage on shares of NIKE in a research report on Friday. They set a “buy” rating and a $84.00 target price on the stock. Finally, Sanford C. Bernstein dropped their price objective on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Fourteen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.86.

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.