Coronation Fund Managers Ltd. Lowers Stock Position in NIKE, Inc. $NKE

Key Points

• Coronation Fund Managers sharply reduced its NIKE stake by 90.4% in the first quarter, selling more than 208,000 shares and leaving it with 22,131 shares worth about $1.17 million.
• NIKE shares were under pressure, opening at $42.22 and sitting near their 52-week low of $40.00, while still trading below both the 50-day and 200-day moving averages.
• NIKE beat quarterly earnings and revenue expectations, but sales still fell 1.1% year over year; analysts remain cautious overall, with a Hold consensus and an average price target of $53.86.

Coronation Fund Managers Ltd. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 90.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,131 shares of the footwear maker's stock after selling 208,048 shares during the period. Coronation Fund Managers Ltd.'s holdings in NIKE were worth $1,169,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Main Street Financial Solutions LLC raised its position in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker's stock worth $244,000 after acquiring an additional 139 shares in the last quarter. Diligent Investors LLC boosted its position in shares of NIKE by 4.3% during the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker's stock worth $237,000 after purchasing an additional 153 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of NIKE by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker's stock worth $253,000 after purchasing an additional 163 shares in the last quarter. Lakeshore Capital Group Inc. grew its stake in shares of NIKE by 2.9% during the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker's stock worth $374,000 after purchasing an additional 165 shares during the period. Finally, ANB Bank grew its stake in shares of NIKE by 0.7% during the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker's stock worth $1,621,000 after purchasing an additional 165 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Down 1.7%

NKE stock opened at $42.22 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The company's 50 day simple moving average is $43.70 and its 200-day simple moving average is $51.37. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The firm has a market capitalization of $62.52 billion, a PE ratio of 20.20, a P/E/G ratio of 1.91 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE's revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.14 EPS. Equities analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.41 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.9%. NIKE's payout ratio is presently 78.47%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NKE. DZ Bank reiterated a "buy" rating on shares of NIKE in a research note on Tuesday, June 30th. The Goldman Sachs Group lowered their target price 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. Barclays dropped their target price on shares of NIKE from $67.00 to $52.00 and set an "overweight" rating for the company in a report on Wednesday, July 1st. Evercore set a $46.00 price target on shares of NIKE and gave the company an "in-line" rating in a research report on Tuesday, June 23rd. Finally, Rothschild & Co Redburn decreased their price target on NIKE from $45.00 to $37.00 and set a "sell" rating on the stock in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $53.86.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is aiming to regain pricing power and reduce marketplace clutter in China by steering online sales toward its own website, app, and select flagship storefronts, which could strengthen brand presentation if it works. After tackling discounts in China, Nike still needs to win back shoppers
• Positive Sentiment: Some analysts still see meaningful upside longer term, with coverage citing a potentially attractive valuation despite the stock’s recent weakness. Nike Continues a Troubled 2026 But Has Potential to Double According to Morningstar
• Neutral Sentiment: NIKE’s latest earnings beat expectations, but revenue still declined year over year, leaving the turnaround narrative intact rather than clearly resolved.
• Negative Sentiment: Wall Street skepticism is growing after NIKE said it will end online distribution through several China partners starting in 2027, with analysts warning that sales could be pressured and market share could slip during the transition. NKE Stock Slips As Nike’s China E-Commerce Reset Draws Wall Street Skepticism
• Negative Sentiment: Reuters and other reports say Nike has been losing sales in China for eight straight quarters, and the overhaul highlights how dependent the turnaround is on winning back shoppers in a highly competitive market. Nike to tighten online sales in China amid 'cluttered' marketplace
• Negative Sentiment: Zacks Research cut multiple forward earnings estimates and kept a “Strong Sell” rating, reinforcing concerns that NIKE’s recovery may take longer than investors hoped. NIKE, Inc. stock news

Insider Transactions at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.10% of the company's stock.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.