CIBC Asset Management Inc Purchases 116,464 Shares of NIKE, Inc. $NKE

Key Points

• CIBC Asset Management increased its NIKE stake by 59.3% in the fourth quarter, buying 116,464 additional shares and bringing its total holding to 312,763 shares worth about $19.9 million.
• NIKE continues to see mixed analyst sentiment, with several firms cutting price targets and the overall consensus remaining “Hold” with a $62.04 target price.
• Recent company updates were mixed: NIKE beat quarterly EPS and revenue estimates, but the stock is trading near its 52-week low, and recent commentary highlights pressure from inventory cleanup, weak sportswear demand, and China headwinds.

CIBC Asset Management Inc boosted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 59.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 312,763 shares of the footwear maker's stock after buying an additional 116,464 shares during the period. CIBC Asset Management Inc's holdings in NIKE were worth $19,926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of NIKE in the 3rd quarter valued at about $35,000. Accredited Wealth Management LLC grew its holdings in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock worth $36,000 after purchasing an additional 376 shares in the last quarter. Strive Asset Management LLC bought a new position in shares of NIKE in the third quarter worth approximately $40,000. Matrix Trust Co increased its position in shares of NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock worth $38,000 after purchasing an additional 181 shares during the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in NIKE in the third quarter valued at approximately $43,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays dropped their target price on shares of NIKE from $73.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Weiss Ratings raised shares of NIKE from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, May 22nd. Bank of America reiterated a "neutral" rating and issued a $55.00 target price (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. Finally, Jefferies Financial Group reduced their target price on NIKE from $110.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, NIKE presently has a consensus rating of "Hold" and a consensus target price of $62.04.

Insider Buying and Selling

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

NIKE Trading Down 0.3%

Shares of NKE opened at $43.66 on Friday. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The firm has a market cap of $64.65 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 1.87 and a beta of 1.12. The firm has a 50 day moving average price of $45.05 and a 200-day moving average price of $56.17. 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 (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $0.54 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. NIKE's dividend payout ratio (DPR) is 108.61%.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Negative Sentiment: NIKE faces renewed pressure from inventory cleanup, sportswear weakness, and China headwinds that may keep sales and margins under strain. NKE Stock Slips Below 50-Day SMA: A Warning Sign for Investors?
• Negative Sentiment: Zacks Research downgraded NIKE from hold to strong sell, which can weigh on investor sentiment. Zacks downgrade report
• Negative Sentiment: A DCF analysis from GuruFocus suggested NIKE may be trading well above its estimated intrinsic value, reinforcing valuation concerns. NKE DCF Analysis: Intrinsic Value $19 vs Price $44
• Neutral Sentiment: Several articles noted that NIKE is attracting investor attention, but did not add new fundamental catalysts beyond general market interest. NIKE, Inc. (NKE) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: NIKE’s AI push and internal automation efforts highlight a longer-term efficiency strategy, but investors are still questioning near-term margin benefits and dividend strength. Nike’s AI Push Raises Questions On Margins And Dividend Strength
• Neutral Sentiment: NIKE’s upcoming connection to Lululemon’s CEO transition is notable, as incoming Lululemon CEO Heidi O’Neill will join after her NIKE non-compete expires, but the article is more relevant to LULU than NKE. Lululemon's next CEO knows how to get it 'back on track': Analyst

NIKE Company 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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