Bastion Asset Management Inc. Buys New Stake in NIKE, Inc. $NKE

Key Points

• Bastion Asset Management initiated a new position in NIKE during the fourth quarter, buying 40,751 shares valued at about $2.55 million. NIKE now makes up roughly 1.4% of Bastion’s portfolio.
• Institutional ownership remains heavy, with hedge funds and other investors holding about 64.25% of NIKE shares. Several major firms, including Vanguard and Flossbach Von Storch, also increased their stakes recently.
• Analysts have turned more cautious on the stock, with several cutting price targets and the overall consensus sitting at Hold with an average target price of $62.04. NIKE also reported better-than-expected quarterly EPS and revenue, while insiders, including the CEO, bought shares in recent months.

Bastion Asset Management Inc. bought a new stake in NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 40,751 shares of the footwear maker's stock, valued at approximately $2,553,000. NIKE comprises about 1.4% of Bastion Asset Management Inc.'s holdings, making the stock its 25th largest position.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in NIKE by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock worth $7,453,658,000 after purchasing an additional 1,702,342 shares during the last quarter. Capital World Investors grew its position in NIKE by 0.7% during the 3rd quarter. Capital World Investors now owns 42,239,013 shares of the footwear maker's stock worth $2,945,326,000 after purchasing an additional 286,615 shares during the last quarter. Flossbach Von Storch SE grew its position in NIKE by 29.3% during the 4th quarter. Flossbach Von Storch SE now owns 12,753,317 shares of the footwear maker's stock worth $812,514,000 after purchasing an additional 2,886,856 shares during the last quarter. Invesco Ltd. grew its position in NIKE by 3.3% during the 3rd quarter. Invesco Ltd. now owns 12,561,334 shares of the footwear maker's stock worth $875,902,000 after purchasing an additional 404,136 shares during the last quarter. Finally, Jennison Associates LLC grew its position in NIKE by 42.3% during the 3rd quarter. Jennison Associates LLC now owns 11,838,528 shares of the footwear maker's stock worth $825,501,000 after purchasing an additional 3,518,666 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on NKE. Evercore lowered their price objective on shares of NIKE from $69.00 to $57.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 1st. Robert W. Baird reduced their target price on shares of NIKE from $85.00 to $70.00 and set an "outperform" rating for the company in a research note on Wednesday, April 1st. Piper Sandler restated a "neutral" rating and issued a $50.00 target price (down from $60.00) on shares of NIKE in a research note on Friday, April 10th. Bank of America restated a "neutral" rating and issued a $55.00 target price (down from $73.00) on shares of NIKE in a research note on Wednesday, April 1st. Finally, Williams Trading reduced their target price on shares of NIKE from $80.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Sixteen analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $62.04.

Insider Activity

In other news, CEO Elliott Hill purchased 23,660 shares of the stock in a transaction dated Monday, April 13th. The stock was acquired at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares in the company, valued at $11,211,990.69. This represents a 9.79% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Holmes Swan purchased 11,781 shares of the stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price 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 represents a 27.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by corporate insiders.

NIKE Stock Performance

Shares of NKE opened at $42.44 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The stock has a market cap of $62.85 billion, a P/E ratio of 28.11, a PEG ratio of 2.26 and a beta of 1.12. The company has a 50-day moving average of $47.29 and a two-hundred day moving average of $57.70. NIKE, Inc. has a 12-month low of $41.35 and a 12-month high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analysts' expectations of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm's quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.9%. NIKE's payout ratio is presently 108.61%.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is expanding its digital and technology strategy by partnering with Google to use AI tools that could improve product discovery and support sales growth. Nike Turns to Google’s AI to Lift Sales, But NKE Stock Keeps Falling
• Neutral Sentiment: Several articles frame NIKE versus Wolverine as a comparison of business models, with NIKE leaning on athlete-led innovation and direct-to-consumer reach while Wolverine emphasizes niche brands and tighter promotions. NIKE vs. Wolverine: Which Footwear Player Is Built to Win?
• Neutral Sentiment: Some investors and commentators are asking whether NIKE stock looks attractive after recent weakness, suggesting the market is weighing recovery potential against ongoing execution risks. Should You Buy the Dip on Nike Stock?
• Negative Sentiment: Ongoing weakness in China remains the biggest near-term concern, with reports citing soft consumer demand, stronger local competition, and inventory issues that could delay a sustained rebound. Is NIKE's China Recovery a Catalyst or Continuing Concern?

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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