Brighton Jones LLC Buys 53,236 Shares of NIKE, Inc. $NKE

Key Points

• Brighton Jones increased its NIKE stake by 52.5% in the third quarter, buying 53,236 shares to hold 154,567 shares valued at approximately $5.47 million.
• Other institutions also added or initiated NIKE positions, and institutional investors and hedge funds collectively own 64.25% of the company.
• NIKE beat quarterly EPS estimates ($0.48 versus $0.43), but revenue fell 4.3% year over year and missed forecasts; analyst sentiment is cautious, with a consensus “Reduce” rating and a $40.91 price target.

Brighton Jones LLC lifted its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 52.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 154,567 shares of the footwear maker's stock after purchasing an additional 53,236 shares during the period. Brighton Jones LLC's holdings in NIKE were worth $5,472,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Flossbach Von Storch SE acquired a new position in NIKE in the second quarter valued at about $488,714,000. State Street Corp boosted its holdings in NIKE by 6.8% during the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker's stock worth $2,636,104,000 after buying an additional 4,052,428 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in NIKE by 873.8% during the third quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker's stock worth $96,310,000 after buying an additional 2,441,233 shares during the last quarter. Equity Investment Corp acquired a new position in shares of NIKE during the 2nd quarter worth about $99,531,000. Finally, Amundi grew its position in shares of NIKE by 59.4% during the 2nd quarter. Amundi now owns 6,460,398 shares of the footwear maker's stock worth $265,199,000 after buying an additional 2,406,609 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares gained 13.9% over the past month, with performance categories and North America showing traction. However, persistent China weakness and earnings pressure make the durability of the rebound uncertain. Read article
• Neutral Sentiment: RBC expects NIKE’s five-year financial targets to be broadly in line with consensus, suggesting its Capital Markets Day may clarify strategy without providing a major near-term catalyst for the stock. Read article
• Negative Sentiment: Analyst caution is weighing on sentiment: Truist downgraded NIKE to “sell” with a $29 target, while UBS maintained “neutral” and a $34 target, warning the recovery may lag valuation expectations. RBC also cut its target to $39 and kept a sector-perform rating. Read article
• Negative Sentiment: Reports point to shrinking Jordan and Dunk sales, with the CEO acknowledging a prior blind spot. A pullback in Jordan sneakers could also create an opening for competitors. Read article
• Negative Sentiment: NIKE’s fiscal 2027 outlook highlights potential sales and earnings pressure; planned $2.5 billion in cost savings could help longer term but may not offset near-term revenue risks. China remains a key concern, with sales there down 25% year over year in the latest reported quarter. Read article

Insider Activity at NIKE

In other NIKE news, EVP Philip McCartney sold 2,559 shares of NIKE stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the transaction, the executive vice president owned 78,121 shares of the company's stock, valued at approximately $2,936,568.39. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the transaction, the chief operating officer owned 104,862 shares of the company's stock, valued at $3,941,762.58. This trade represents a 3.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Rothschild & Co Redburn lowered their price target on NIKE from $45.00 to $37.00 and set a "sell" rating for the company in a research note on Friday, July 17th. Needham & Company LLC reissued a "hold" rating on shares of NIKE in a research note on Friday, October 2nd. Weiss Ratings cut shares of NIKE from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, October 6th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $45.00 target price on shares of NIKE in a research note on Friday, October 2nd. Finally, JPMorgan Chase & Co. cut their target price on shares of NIKE from $40.00 to $33.00 and set an "underweight" rating on the stock in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty have assigned a Hold rating and twelve have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $40.91.

NIKE Trading Up 0.1%

NYSE NKE opened at $38.61 on Monday. The firm has a market cap of $57.35 billion, a P/E ratio of 18.56, a P/E/G ratio of 4.51 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39. The stock's 50-day moving average is $36.91 and its 200-day moving average is $45.63. NIKE, Inc. has a one year low of $31.97 and a one year high of $69.14.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (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 during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the firm earned $0.49 EPS. NIKE's quarterly revenue was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. Sell-side analysts anticipate that NIKE, Inc. will post 1.22 earnings per share for the current fiscal year.

NIKE Profile

NIKE, Inc designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories.

The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.

NIKE traces its roots to Blue Ribbon Sports, founded in 1964 by Phil Knight and Bill Bowerman.

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