246,591 Shares in NIKE, Inc. $NKE Purchased by SEB Asset Management AB

SEB Asset Management AB bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 246,591 shares of the footwear maker’s stock, valued at approximately $13,025,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NKE. Main Street Financial Solutions LLC boosted its position in NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares during the last quarter. Diligent Investors LLC raised its holdings in NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after acquiring an additional 153 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 163 shares in the last quarter. Lakeshore Capital Group Inc. lifted its stake in NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after purchasing an additional 165 shares in the last quarter. Finally, ANB Bank boosted its holdings in shares of NIKE by 0.7% during the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after purchasing an additional 165 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In related news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Guggenheim reissued a “buy” rating and set a $60.00 price objective (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. Wells Fargo & Company reduced their price target on NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 1st. Barclays lowered their price target on shares of NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Jefferies Financial Group dropped their price objective on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, Piper Sandler cut their price objective on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $54.80.

NIKE Stock Performance

Shares of NIKE stock opened at $43.43 on Tuesday. The stock has a market capitalization of $64.31 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 2.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The business has a 50-day moving average of $43.69 and a 200 day moving average of $51.66. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 1.75 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s payout ratio is 78.47%.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).