60,700 Shares in NIKE, Inc. $NKE Purchased by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System disclosed a new first-quarter stake in NIKE, buying 60,700 shares worth about $3.2 million. Several other institutional investors also added small positions, and institutions now own 64.25% of the stock.
• NIKE is heading into earnings with mixed Wall Street sentiment: Oppenheimer kept an outperform rating but lowered its target to $60, while other firms such as KeyBanc, Stifel, and Deutsche Bank turned more cautious and cut targets.
• Investors are focused on whether NIKE’s “Win Now” turnaround strategy and new CFO transition can improve results amid concerns about slower recovery, China weakness, tariffs, promotions, and near-term execution ahead of the earnings report.

Louisiana State Employees Retirement System purchased a new stake in NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 60,700 shares of the footwear maker's stock, valued at approximately $3,206,000.

Other large investors have also modified their holdings of the company. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the 4th quarter worth $26,000. Sankala Group LLC purchased a new position in NIKE in the fourth quarter valued at approximately $26,000. J.Safra Asset Management Corp acquired a new position in NIKE during the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in NIKE during the fourth quarter valued at approximately $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in NIKE during the fourth quarter worth approximately $32,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Oppenheimer lowered its price target to $60 but kept an outperform rating, signaling some analysts still see meaningful upside from current levels. Oppenheimer target update
• Positive Sentiment: Investors are also watching for any improvement from NIKE’s “Win Now” turnaround strategy and upcoming guidance, which could help support sentiment if management shows clearer progress. Nike fiscal Q4 preview
• Neutral Sentiment: NIKE is expected to report results after Tuesday’s close, and traders are bracing for a potentially large post-earnings move as attention centers on revenue trends, margins, and forward guidance. Investopedia earnings move preview
• Neutral Sentiment: Wall Street is closely focused on the new CFO transition, with investors waiting to see whether leadership changes help or hurt execution in the near term. Nike shares in focus as company names new CFO
• Negative Sentiment: KeyBanc turned more cautious, saying NIKE’s recovery is taking longer than expected amid slower turnaround progress and stronger competition from rivals. KeyBanc downgrade
• Negative Sentiment: Other coverage points to a “soft” quarter, with pressure from China weakness, tariffs, promotions, and operational uncertainty weighing on expectations ahead of earnings. Nike likely to report soft quarterly results
• Negative Sentiment: Stifel and Deutsche Bank also cut price targets, reinforcing a more cautious Street view before the report. Stifel target cut Deutsche Bank target cut

Analysts Set New Price Targets

A number of research firms have recently issued reports on NKE. BNP Paribas Exane reiterated an "underperform" rating on shares of NIKE in a research note on Tuesday, June 23rd. Berenberg Bank restated a "neutral" rating on shares of NIKE in a report on Wednesday, May 6th. Weiss Ratings downgraded shares of NIKE from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, June 8th. Citigroup reissued a "neutral" rating on shares of NIKE in a research report on Wednesday. Finally, Truist Financial decreased their target price on shares of NIKE from $69.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $59.01.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 11,781 shares of the stock in a transaction dated Tuesday, April 7th. The shares were bought at an average cost of $42.44 per share, with a total value of $499,985.64. Following the completion of the acquisition, the director owned 55,074 shares of the company's stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Rogers, Jr. acquired 4,000 shares of NIKE stock in a transaction that occurred on Thursday, April 9th. The stock was bought at an average cost of $43.34 per share, with a total value of $173,360.00. Following the acquisition, the director directly owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 64,441 shares of company stock valued at $2,734,204. Company insiders own 0.80% of the company's stock.

NIKE Stock Performance

Shares of NKE opened at $40.76 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. NIKE, Inc. has a 1 year low of $40.00 and a 1 year high of $80.17. The firm has a fifty day moving average of $44.19 and a 200-day moving average of $53.96. The company has a market cap of $60.36 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the business posted $0.54 EPS. NIKE's revenue was up .1% on a year-over-year basis. As a group, equities analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.0%. NIKE's dividend payout ratio is presently 108.61%.

NIKE Profile

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).

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