SEB Asset Management AB Purchases New Shares in NIKE, Inc. $NKE

SEB Asset Management AB acquired a new position in NIKE, Inc. (NYSE:NKE) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 246,591 shares of the footwear maker’s stock, valued at approximately $13,025,000.

A number of other large investors have also recently made changes to their positions in NKE. Brighton Jones LLC raised its position in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Caxton Associates LLP purchased a new position in shares of NIKE in the 1st quarter worth approximately $311,000. United Bank increased its position in shares of NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after purchasing an additional 1,736 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after purchasing an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock valued at $13,588,000 after buying an additional 11,646 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

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

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. On average, equities research analysts anticipate that NIKE, Inc. will post 1.75 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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

Insider Activity

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NKE shares. Evercore set a $46.00 price target on NIKE and gave the stock an “in-line” rating in a research report on Tuesday, June 23rd. Jefferies Financial Group reduced their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, July 1st. DZ Bank restated a “buy” rating on shares of NIKE in a report on Tuesday, April 21st. Truist Financial lowered their target price on shares of NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $54.80.

About NIKE

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).