Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stake in Nike Inc (NYSE:NKE)

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Nike Inc (NYSE:NKE) by 4.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 353,661 shares of the footwear maker’s stock after selling 17,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Nike were worth $29,262,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Sowa Financial Group Inc. acquired a new position in shares of Nike during the 4th quarter worth $27,000. Kessler Investment Group LLC purchased a new position in Nike during the 1st quarter valued at about $27,000. Carmichael Hill & Associates Inc. purchased a new stake in shares of Nike in the fourth quarter valued at about $37,000. PSI Advisors LLC purchased a new stake in shares of Nike in the fourth quarter valued at about $37,000. Finally, Savior LLC acquired a new stake in shares of Nike in the fourth quarter valued at approximately $40,000. 65.08% of the stock is currently owned by institutional investors.

NKE traded down $0.51 during trading on Friday, hitting $93.75. 4,040,519 shares of the company’s stock were exchanged, compared to its average volume of 6,715,255. Nike Inc has a 1 year low of $60.00 and a 1 year high of $105.62. The stock has a 50 day moving average price of $87.02 and a 200 day moving average price of $92.42. The firm has a market cap of $146.58 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 2.92 and a beta of 0.75. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 0.69.

Nike (NYSE:NKE) last posted its earnings results on Tuesday, March 24th. The footwear maker reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.19. Nike had a net margin of 10.46% and a return on equity of 51.49%. The business had revenue of $10.10 billion for the quarter, compared to analyst estimates of $9.56 billion. During the same quarter in the previous year, the business posted $0.68 EPS. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts forecast that Nike Inc will post 2.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Friday, May 29th. Nike’s dividend payout ratio is presently 39.36%.

NKE has been the topic of a number of recent research reports. Zacks Investment Research lowered Nike from a “hold” rating to a “sell” rating and set a $93.00 target price on the stock. in a research note on Wednesday, March 11th. Deutsche Bank restated a “neutral” rating and issued a $84.00 price objective on shares of Nike in a research report on Wednesday, April 29th. UBS Group dropped their price objective on Nike from $123.00 to $114.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Wells Fargo & Co raised shares of Nike from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $87.00 to $99.00 in a research note on Monday, March 30th. Finally, Wedbush initiated coverage on shares of Nike in a research note on Wednesday, March 25th. They set an “outperform” rating and a $93.00 price target on the stock. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $98.18.

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company’s stock in a transaction dated Thursday, March 26th. The shares were bought at an average price of $84.22 per share, for a total transaction of $210,550.00. Following the completion of the purchase, the director now directly owns 11,851 shares of the company’s stock, valued at approximately $998,091.22. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 1,000 shares of Nike stock in a transaction dated Friday, April 3rd. The shares were purchased at an average cost of $84.63 per share, for a total transaction of $84,630.00. Following the completion of the transaction, the director now owns 12,851 shares of the company’s stock, valued at approximately $1,087,580.13. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.

About Nike

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

Recommended Story: High-Yield Dividend Stocks

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike and related companies with MarketBeat.com's FREE daily email newsletter.