199,000 NIKE, Inc. $NKE Shares Acquired by Bright Rock Capital Management LLC

Key Points

• Bright Rock Capital Management doubled its NIKE stake during the third quarter by acquiring 199,000 shares, bringing its holdings to 398,000 shares valued at approximately $14.1 million. Institutional investors collectively own 64.25% of NIKE.
• NIKE shares recently traded near $33.59, close to their 12-month low, after the company reported quarterly EPS of $0.48 that exceeded estimates but revenue of $11.21 billion declined 4.3% year over year and fell short of expectations.
• NIKE paid a quarterly dividend of $0.41 per share, representing a 4.9% annualized yield, while analyst sentiment remained cautious with a consensus “Hold” rating and an average price target of $41.80.

Bright Rock Capital Management LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 100.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 398,000 shares of the footwear maker's stock after acquiring an additional 199,000 shares during the period. NIKE accounts for about 2.7% of Bright Rock Capital Management LLC's portfolio, making the stock its 10th biggest position. Bright Rock Capital Management LLC's holdings in NIKE were worth $14,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rockland Trust Co. grew its position in NIKE by 14.9% in the third quarter. Rockland Trust Co. now owns 633,768 shares of the footwear maker's stock valued at $22,435,000 after acquiring an additional 82,308 shares during the last quarter. Confluence Investment Management LLC increased its position in NIKE by 873.8% during the 3rd quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker's stock worth $96,310,000 after purchasing an additional 2,441,233 shares in the last quarter. QRG Capital Management Inc. lifted its stake in NIKE by 8.5% in the 2nd quarter. QRG Capital Management Inc. now owns 106,883 shares of the footwear maker's stock valued at $4,388,000 after purchasing an additional 8,338 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in NIKE by 214.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,596 shares of the footwear maker's stock valued at $1,338,000 after buying an additional 22,215 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of NIKE by 98.4% during the second quarter. Envestnet Asset Management Inc. now owns 2,202,581 shares of the footwear maker's stock worth $90,416,000 after buying an additional 1,092,282 shares during the last quarter. Institutional investors own 64.25% of the company's stock.

NIKE Trading Down 0.8%

Shares of NYSE NKE traded down $0.28 during trading on Monday, reaching $33.59. The company had a trading volume of 39,540,890 shares, compared to its average volume of 24,206,492. NIKE, Inc. has a 12 month low of $31.97 and a 12 month high of $72.39. The company has a quick ratio of 1.39, a current ratio of 2.07 and a debt-to-equity ratio of 0.39. The stock has a market cap of $49.84 billion, a P/E ratio of 16.17, a PEG ratio of 2.58 and a beta of 1.09. The company's fifty day moving average price is $38.88 and its 200-day moving average price is $42.79.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. NIKE had a return on equity of 15.94% and a net margin of 6.74%.The business had revenue of $11.21 billion for the quarter, compared to analysts' expectations of $11.32 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The firm's revenue was down 4.3% on a year-over-year basis. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, research analysts expect that NIKE, Inc. will post 1.46 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.9%. NIKE's dividend payout ratio is 78.85%.

Insider Activity

In other news, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $102,460.80. Following the completion of the transaction, the chief financial officer directly owned 82,165 shares of the company's stock, valued at approximately $3,418,064. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.05, for a total value of $204,657.35. Following the completion of the transaction, the insider directly owned 57,436 shares in the company, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 14,974 shares of company stock worth $600,126 over the last ninety days. Corporate insiders own 1.10% of the company's stock.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s strong balance sheet, debt reduction and liquidity provide financial flexibility during the restructuring and could support a longer-term recovery. A small number of analysts remain bullish, including Freedom Broker, which upgraded the shares to “Buy.” Could Nike’s Brutal Sell-Off Finally Be Running Out of Steam?
• Neutral Sentiment: NIKE beat fiscal first-quarter earnings expectations, reporting $0.48 per share versus the $0.43 consensus, but revenue fell short of estimates at $11.21 billion and declined 4.3% year over year. The company also announced restructuring actions expected to include layoffs, making the potential benefits uncertain. Is Buying Nike Stock Now a Brilliant Move or a Disaster Waiting to Happen?
• Negative Sentiment: Management expects fiscal 2027 revenue to decline by a high-single-digit percentage, signaling that the recovery will take longer than anticipated. China sales dropped 26%, while core brands, inventory levels and broader demand remain under pressure. Nike’s Earnings Are a Disaster
• Negative Sentiment: Analyst sentiment has deteriorated, with Williams Trading cutting NIKE to “Hold” and JPMorgan, Citi, BTIG and Stifel lowering expectations or price targets. Investors are also questioning valuation and dividend sustainability because projected earnings are falling and free cash flow may not fully cover distributions. NIKE Cut to Hold at Williams Trading

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BNP Paribas Exane set a $19.00 price target on NIKE and gave the company an "underperform" rating in a research note on Friday. Jefferies Financial Group set a $60.00 target price on NIKE in a report on Friday. Guggenheim reissued a "buy" rating and set a $50.00 price target (down from $60.00) on shares of NIKE in a research note on Friday. Telsey Advisory Group set a $35.00 price target on NIKE and gave the stock a "market perform" rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of NIKE in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, twenty-two have given a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $41.80.

NIKE Company Profile

NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.

The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.

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