Benjamin Edwards Inc. increased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 92.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 200,827 shares of the footwear maker's stock after buying an additional 96,420 shares during the period. Benjamin Edwards Inc.'s holdings in NIKE were worth $8,244,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in NKE. Main Street Financial Solutions LLC raised its holdings in shares of NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock valued at $244,000 after purchasing an additional 139 shares in the last quarter. ANB Bank increased its position in NIKE by 0.7% during the fourth quarter. ANB Bank now owns 25,451 shares of the footwear maker's stock worth $1,621,000 after buying an additional 165 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in NIKE by 4.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 3,970 shares of the footwear maker's stock worth $253,000 after buying an additional 169 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in NIKE by 14.1% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 1,416 shares of the footwear maker's stock valued at $90,000 after buying an additional 175 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its position in shares of NIKE by 0.8% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 23,293 shares of the footwear maker's stock worth $1,624,000 after buying an additional 181 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at NIKE
In other NIKE news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the sale, the insider owned 57,436 shares in the company, valued at $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $102,460.80. Following the sale, the chief financial officer owned 82,165 shares in the company, valued at $3,418,064. This represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 26,142 shares of company stock worth $1,169,380. Insiders own 1.10% of the company's stock.
Wall Street Analysts Forecast Growth
NKE has been the topic of a number of recent analyst reports. Oppenheimer cut their price objective on NIKE from $120.00 to $60.00 and set an "outperform" rating on the stock in a research note on Friday, June 26th. Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 19th. The Goldman Sachs Group dropped their price target on shares of NIKE from $46.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 1st. Citigroup restated a "neutral" rating on shares of NIKE in a research note on Wednesday, July 22nd. Finally, Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective (down from $74.00) on shares of NIKE in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $52.94.
Check Out Our Latest Analysis on NIKE
Trending Headlines about NIKE
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
- Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
- Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
- Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
- Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
- Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.
NIKE Price Performance
NYSE:NKE opened at $39.57 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. NIKE, Inc. has a one year low of $38.17 and a one year high of $79.13. The company has a fifty day moving average price of $41.91 and a 200 day moving average price of $47.01. The stock has a market cap of $58.70 billion, a P/E ratio of 18.93, a PEG ratio of 1.76 and a beta of 1.11.
NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business's revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 EPS. Analysts anticipate that NIKE, Inc. will post 1.74 earnings per share for the current year.
NIKE Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.1%. NIKE's dividend payout ratio is 78.47%.
NIKE Company Profile
(
Free Report)
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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