Global Retirement Partners LLC Buys New Shares in NIKE, Inc. $NKE

Key Points

• Global Retirement Partners LLC initiated a NIKE position by purchasing 25,464 shares worth approximately $1.05 million. Institutional investors collectively own 64.25% of the company.
• Analyst sentiment remains mixed: NIKE has an overall “Hold” consensus and an average price target of $53.53, though several firms recently lowered their targets and one downgraded the stock to “Sell.”
• NIKE shares opened at $40.06, near their 52-week low, despite the company exceeding quarterly earnings and revenue estimates. The company also declared a $0.41 quarterly dividend, representing a 4.1% annualized yield, while insiders have sold shares in recent months.

Global Retirement Partners LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 25,464 shares of the footwear maker's stock, valued at approximately $1,045,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC increased its stake 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 worth $244,000 after purchasing an additional 139 shares during the last quarter. ANB Bank grew its holdings 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 purchasing an additional 165 shares during the period. 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. Caldwell Sutter Capital Inc. increased its position in NIKE by 7.6% during the fourth quarter. Caldwell Sutter Capital Inc. now owns 2,402 shares of the footwear maker's stock worth $153,000 after buying an additional 170 shares during the last quarter. Finally, Activest Wealth Management raised its stake in NIKE by 27.4% in the fourth quarter. Activest Wealth Management now owns 810 shares of the footwear maker's stock valued at $52,000 after buying an additional 174 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler cut their price objective on NIKE from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, July 1st. Telsey Advisory Group set a $47.00 target price on NIKE and gave the stock a "market perform" rating in a report on Wednesday, July 1st. China Renaissance dropped their price target on NIKE from $50.30 to $47.30 and set a "hold" rating on the stock in a research note on Thursday, July 2nd. Jefferies Financial Group decreased their price objective on shares of NIKE from $90.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, July 1st. Finally, Rothschild & Co Redburn dropped their price objective on shares of NIKE from $45.00 to $37.00 and set a "sell" rating on the stock in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $53.53.

Insider Buying and Selling at NIKE

In related news, insider Amy Montagne sold 4,867 shares of the firm's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the transaction, the insider directly owned 57,436 shares of the company's stock, valued at approximately $2,415,183.80. This trade represents a 7.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Venkatesh Alagirisamy sold 890 shares of NIKE stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $37,024.00. Following the completion of the sale, the chief operating officer owned 74,820 shares of the company's stock, valued at $3,112,512. This trade represents a 1.18% 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. Over the last ninety days, insiders have sold 26,142 shares of company stock valued at $1,169,380. 1.10% of the stock is currently owned by insiders.

NIKE Stock Performance

NYSE:NKE opened at $40.06 on Wednesday. The stock has a 50 day simple moving average of $42.73 and a 200 day simple moving average of $48.29. The stock has a market cap of $59.43 billion, a P/E ratio of 19.17, a PEG ratio of 1.81 and a beta of 1.11. NIKE, Inc. has a 1-year low of $38.86 and a 1-year high of $80.17. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 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%.The company's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.14 EPS. Research analysts anticipate that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.1%. NIKE's dividend payout ratio is 78.47%.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Recent results showed improving wholesale demand, particularly in North America, alongside a sharp improvement in gross margin and better-than-expected earnings. Management’s focus on product innovation and marketplace execution is giving some investors hope that the reset under CEO Elliott Hill can eventually restore growth. Why Nike Stock Is Up Today
• Positive Sentiment: Valuation and income appeal are attracting contrarian investors. The stock offers a dividend yield near 4%, and NIKE could potentially extend its dividend-growth streak for a 25th consecutive year in 2026. Several company insiders have also purchased shares recently. Nike Stock Dividend Outlook
• Neutral Sentiment: Analyst targets imply substantial potential upside, with reports citing an average target around $50.66 and a median six-month target of $47.50. However, targets vary widely, underscoring the uncertainty surrounding the turnaround. Nike Price Target Outlook
• Negative Sentiment: Investors remain concerned that the turnaround is taking too long. NIKE has lost roughly 78% from its 2021 peak and more than $200 billion in market value, while weak direct-to-consumer demand, international pressure and a reported decline in China sales continue to weigh on sentiment. Nike Stock Hits Lowest Level Since 2014
• Negative Sentiment: A recent analyst downgrade and weak digital sales have reinforced fears that product and distribution problems will persist. Technical analysts also describe the stock’s trend as severely damaged, limiting confidence that the current rebound represents a durable bottom. What Is Dragging Nike Down?

About NIKE

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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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.

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