Nordea Investment Management AB Trims Stock Holdings in NIKE, Inc. (NYSE:NKE)

Nordea Investment Management AB lowered its stake in NIKE, Inc. (NYSE:NKE) by 9.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,748,312 shares of the footwear maker’s stock after selling 504,288 shares during the quarter. Nordea Investment Management AB’s holdings in NIKE were worth $361,584,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NKE. Cacti Asset Management LLC purchased a new stake in shares of NIKE in the fourth quarter worth $9,987,000. ING Groep NV bought a new position in shares of NIKE in the third quarter worth about $29,628,000. Confluence Investment Management LLC raised its stake in NIKE by 6.3% during the 4th quarter. Confluence Investment Management LLC now owns 246,080 shares of the footwear maker’s stock valued at $18,621,000 after purchasing an additional 14,592 shares during the period. Cordatus Wealth Management LLC grew its holdings in NIKE by 19.5% during the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after buying an additional 6,778 shares in the last quarter. Finally, Bristlecone Advisors LLC raised its position 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 valued at $8,267,000 after buying an additional 11,665 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research note on Monday, December 16th. Jefferies Financial Group upped their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Wells Fargo & Company cut their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. Stifel Nicolaus lowered their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Finally, 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. Fifteen analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $89.58.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The stock was bought at an average cost 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 approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE opened at $73.31 on Monday. The stock has a 50-day moving average of $76.91 and a two-hundred day moving average of $79.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market cap of $109.92 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.89 and a beta of 1.02. NIKE, Inc. has a one year low of $70.75 and a one year high of $107.43.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. NIKE’s payout ratio is 49.38%.

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.