Swedbank AB Acquires 11,877 Shares of NIKE, Inc. (NYSE:NKE)

Swedbank AB lifted its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 980,660 shares of the footwear maker’s stock after acquiring an additional 11,877 shares during the quarter. Swedbank AB owned about 0.07% of NIKE worth $86,690,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its holdings in shares of NIKE by 5.5% during the 2nd quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of NIKE by 1.4% in 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. Massachusetts Financial Services Co. MA lifted its position in shares of NIKE by 19.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,209,868 shares of the footwear maker’s stock worth $637,352,000 after purchasing an additional 1,184,252 shares during the last quarter. Van ECK Associates Corp boosted its stake in NIKE by 15.1% during the 3rd quarter. Van ECK Associates Corp now owns 4,885,672 shares of the footwear maker’s stock valued at $431,893,000 after purchasing an additional 641,398 shares during the period. Finally, Swiss National Bank grew its holdings in NIKE by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,595,800 shares of the footwear maker’s stock valued at $317,869,000 after buying an additional 9,000 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NKE. Jefferies Financial Group upped their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. UBS Group increased their price target on shares of NIKE from $78.00 to $82.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Bank of America cut their target price on NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, Morgan Stanley raised their price target on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Fourteen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $95.86.

NIKE Price Performance

Shares of NKE stock opened at $77.40 on Monday. The firm’s 50 day moving average price is $80.51 and its two-hundred day moving average price is $82.52. The stock has a market cap of $116.05 billion, a PE 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 debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last announced 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 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm earned $0.94 earnings per share. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid 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 of this dividend 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%.

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.