Incline Global Management LLC Takes Position in NIKE, Inc. $NKE

Key Points

• Incline Global Management opened a new position in NIKE during the fourth quarter, buying 223,998 shares worth about $14.3 million. NIKE now represents roughly 4.9% of the firm’s portfolio.
• Insider buying was also notable, with CEO Elliott Hill and Director Timothy D. Cook both purchasing shares in April. In total, insiders bought 64,441 shares last quarter valued at about $2.7 million.
• NIKE shares were down 1.9% to $44.19, and the stock remains well below its 52-week high of $80.17. Analysts currently have a Hold consensus on the name, even as the company reported earnings and revenue that slightly beat expectations.

Incline Global Management LLC purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 223,998 shares of the footwear maker's stock, valued at approximately $14,271,000. NIKE comprises about 4.9% of Incline Global Management LLC's investment portfolio, making the stock its 6th biggest holding.

Several other large investors have also bought and sold shares of NKE. J. Stern & Co. LLP lifted its holdings in NIKE by 49,010.4% in the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker's stock valued at $3,061,555,000 after buying an additional 47,956,692 shares during the period. Norges Bank acquired a new position in NIKE in the fourth quarter valued at approximately $829,956,000. Harris Associates L P acquired a new position in NIKE in the second quarter valued at approximately $621,525,000. Capital World Investors lifted its holdings in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker's stock valued at $3,126,246,000 after buying an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. lifted its holdings in NIKE by 2,492.4% in the fourth quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker's stock valued at $311,111,000 after buying an additional 4,694,859 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Elliott Hill acquired 23,660 shares of the company's stock in a transaction that occurred on Monday, April 13th. The shares were acquired at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares in the company, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy D. Cook acquired 25,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The shares were bought at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares of the company's stock, valued at $5,536,266.40. This trade represents a 23.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by company insiders.

NIKE Trading Down 1.9%

NKE opened at $44.19 on Thursday. The firm's fifty day moving average is $44.30 and its two-hundred day moving average is $54.99. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The firm has a market cap of $65.45 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping 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 business's revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the business posted $0.54 earnings per share. Equities research analysts anticipate that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.7%. NIKE's dividend payout ratio (DPR) is 108.61%.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is entering the World Cup with a major global marketing push, including new football boots, federation shirts, and refreshed store displays, which could boost brand visibility and merchandise sales. Nike gets World Cup opportunity it can’t afford to waste
• Positive Sentiment: Reports of record Knicks championship merchandise sales suggest strong demand tied to major sports moments, reinforcing Nike’s ability to monetize high-profile events. Nike (NKE) Sees Record Knicks Merch Sales As The World Cup Begins
• Neutral Sentiment: Several recent articles frame NIKE as a fairly valued stock after a multi-year decline, suggesting investors may see the shares as pricing in a lot of bad news already. Nike (NKE) Stock Price Looks Fair After Multi‑Year Slide And DCF Check
• Neutral Sentiment: Analysts continue to compare Nike with stronger-performing footwear peers like Steven Madden, highlighting that Nike still faces turnaround pressure and relative growth concerns. NIKE vs. Steven Madden: Which Stock Has an Edge in the Footwear Space?
• Negative Sentiment: Nike is still viewed as struggling to regain momentum ahead of its June 30 earnings report, keeping attention on whether management can show a real improvement in the business. Nike Stock Struggling to Bounce Back Before Earnings

Analyst Ratings Changes

Several equities analysts recently weighed in on NKE shares. DA Davidson lowered shares of NIKE from a "buy" rating to a "neutral" rating and cut their price objective for the company from $72.00 to $46.00 in a report on Thursday, April 2nd. The Goldman Sachs Group restated a "neutral" rating and issued a $52.00 price objective on shares of NIKE in a report on Friday, June 5th. JPMorgan Chase & Co. restated a "neutral" rating on shares of NIKE in a report on Monday, April 13th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $54.00 to $51.00 and set a "hold" rating on the stock in a report on Wednesday, April 1st. Finally, Stifel Nicolaus cut their price objective on shares of NIKE from $65.00 to $56.00 and set a "hold" rating on the stock in a report on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, NIKE has a consensus rating of "Hold" and an average price target of $60.89.

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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