KLP Kapitalforvaltning AS Makes New $35.56 Million Investment in NIKE, Inc. (NYSE:NKE)

KLP Kapitalforvaltning AS purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 467,858 shares of the footwear maker’s stock, valued at approximately $35,560,000.

Other large investors also recently bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in NIKE during the fourth quarter worth approximately $28,000. Caitlin John LLC raised its stake in NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE in the 3rd quarter valued at $30,000. Roxbury Financial LLC purchased a new position in shares of NIKE in the 4th quarter valued at $30,000. Finally, LFA Lugano Financial Advisors SA raised its stake in shares of NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE 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 $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased 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 in the company, valued at $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NKE has been the topic of a number of research reports. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and raised their target price for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Telsey Advisory Group reissued a “market perform” rating and issued a $80.00 target price on shares of NIKE in a research note on Monday, March 17th. Truist Financial cut their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company cut their target price on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fifteen investment 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 has an average rating of “Moderate Buy” and a consensus target price of $87.38.

NIKE Trading Down 5.4 %

NYSE NKE opened at $68.02 on Friday. NIKE, Inc. has a one year low of $65.17 and a one year high of $98.04. The company has a 50-day simple moving average of $74.70 and a 200-day simple moving average of $77.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market capitalization of $100.60 billion, a PE ratio of 20.99, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business posted $0.98 EPS. The company’s quarterly revenue was down 9.1% on a year-over-year basis. On average, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.35%. NIKE’s dividend payout ratio is presently 53.16%.

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.