Envestnet Asset Management Inc. Purchases 1,092,282 Shares of NIKE, Inc. $NKE

Key Points

• Envestnet Asset Management nearly doubled its NIKE position in the second quarter, adding 1.09 million shares to hold 2.20 million shares valued at approximately $90.4 million. Institutional investors and hedge funds collectively own 64.25% of NIKE.
• NIKE reported quarterly EPS of $0.20, beating estimates of $0.11, while revenue reached $10.97 billion but declined 1.1% year over year. The company also declared a quarterly dividend of $0.41 per share, representing a 4.6% annualized yield.
• Analyst sentiment remains mixed, with NIKE carrying a consensus Hold rating and a $47.80 price target. Bank of America downgraded the stock to Underperform with a $30 target, citing weak demand, excess China inventory, wholesale pressure and concerns about the pace of the turnaround.

Envestnet Asset Management Inc. increased its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 98.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,202,581 shares of the footwear maker's stock after purchasing an additional 1,092,282 shares during the period. Envestnet Asset Management Inc. owned about 0.15% of NIKE worth $90,416,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Street Corp grew its position in NIKE by 6.8% in the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker's stock valued at $2,636,104,000 after acquiring an additional 4,052,428 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in NIKE by 1.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 640,889 shares of the footwear maker's stock valued at $26,308,000 after purchasing an additional 11,884 shares during the last quarter. MCF Advisors LLC boosted its position in NIKE by 48.4% in the second quarter. MCF Advisors LLC now owns 25,663 shares of the footwear maker's stock valued at $1,060,000 after buying an additional 8,370 shares in the last quarter. National Pension Service boosted its position in NIKE by 8.7% in the second quarter. National Pension Service now owns 3,088,640 shares of the footwear maker's stock valued at $126,789,000 after buying an additional 247,230 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in NIKE by 63.0% in the second quarter. WINTON GROUP Ltd now owns 43,923 shares of the footwear maker's stock valued at $1,803,000 after buying an additional 16,978 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NIKE stock opened at $35.77 on Friday. 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 firm has a market cap of $53.06 billion, a P/E ratio of 17.11, a P/E/G ratio of 1.83 and a beta of 1.10. The firm has a 50 day simple moving average of $39.58 and a 200 day simple moving average of $43.57. NIKE, Inc. has a fifty-two week low of $35.22 and a fifty-two week high of $76.97.

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. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter in the prior year, the business earned $0.14 EPS. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. Sell-side analysts predict that NIKE, Inc. will post 1.66 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.6%. NIKE's payout ratio is currently 78.47%.

Insider Buying and Selling at NIKE

In related news, EVP Philip McCartney sold 2,559 shares of the 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 directly owned 78,121 shares in the company, valued at $2,936,568.39. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew Friend sold 2,463 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer directly owned 82,165 shares in the company, valued at approximately $3,418,064. The trade was a 2.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 14,974 shares of company stock valued at $600,126. 1.10% of the stock is currently owned by corporate insiders.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: BTIG reaffirmed a Buy rating, providing a counterpoint to the more cautious analyst views. NIKE also recently signed a reported $200 million partnership with the University of Miami, potentially supporting its college-sports presence. BTIG Research Reaffirms Buy Rating for NIKE Nike University of Miami Partnership
• Neutral Sentiment: NIKE is scheduled to report fiscal first-quarter results on October 1. Investors will look for evidence of improving demand, inventory normalization and progress in China; options markets imply a potentially significant post-earnings move. Nike Earnings Expectations
• Negative Sentiment: Bank of America downgraded NIKE to Underperform from Neutral and cut its price target to $30 from $47. The firm now expects sales to keep falling through May, pushing the anticipated recovery back by roughly a year—potentially to fiscal 2028—and eliminating hopes for a near-term “spring inflection.” Bank of America Nike Downgrade
• Negative Sentiment: The bearish view reflects pressure on wholesale sales and distribution channels, weak demand and excess inventory in China, softer consumer trends, and concerns about product innovation. Bank of America also reduced its valuation multiple, while other analysts have trimmed earnings estimates ahead of the report. Nike Channel and China Pressures

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent analyst reports. Truist Financial set a $42.00 price objective on shares of NIKE and gave the stock a "hold" rating in a report on Wednesday, August 26th. Telsey Advisory Group set a $44.00 target price on NIKE and gave the stock a "market perform" rating in a report on Tuesday, September 15th. Weiss Ratings upgraded NIKE from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, July 17th. Argus raised NIKE to a "strong-buy" rating in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on NIKE from $43.00 to $45.00 and gave the company a "hold" rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty-one have issued a Hold rating and seven have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, NIKE currently has an average rating of "Hold" and a consensus target price of $47.80.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE's offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.

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