AMF Tjanstepension AB Reduces Holdings in NIKE, Inc. (NYSE:NKE)

AMF Tjanstepension AB lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 250,526 shares of the footwear maker’s stock after selling 5,014 shares during the period. AMF Tjanstepension AB’s holdings in NIKE were worth $18,987,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the fourth quarter worth $28,000. Caitlin John LLC increased its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the third quarter worth $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter worth $30,000. Finally, BankPlus Trust Department bought a new stake in shares of NIKE in the fourth quarter worth $34,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

NKE stock opened at $78.68 on Friday. The company has a market capitalization of $116.38 billion, a P/E ratio of 24.28, a PEG ratio of 2.52 and a beta of 1.02. The company has a 50-day simple moving average of $74.76 and a 200 day simple moving average of $78.21. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $102.49. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. Evercore ISI dropped their price target on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research note on Monday, December 16th. Stifel Nicolaus dropped their price target on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Wells Fargo & Company dropped their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Finally, Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and lowered their target price for the company from $102.00 to $72.00 in a research note on Friday, February 7th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

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.