Matrix Asset Advisors Inc. NY Takes Position in NIKE, Inc. $NKE

Key Points

• Matrix Asset Advisors Inc. NY opened a new position in NIKE during the first quarter, buying 132,752 shares worth about $7.0 million.
• Institutional ownership remains heavy, with major investors like Vanguard, State Street, and Capital World all adding to their NIKE stakes; hedge funds and other institutions hold 64.25% of the stock.
• Wall Street sentiment is mixed to cautious ahead of NIKE’s upcoming earnings, with several firms cutting price targets and concerns centering on slower turnaround progress, China weakness, tariffs, and competition.

Matrix Asset Advisors Inc. NY bought a new position in NIKE, Inc. (NYSE:NKE - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 132,752 shares of the footwear maker's stock, valued at approximately $7,012,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in NIKE by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock worth $7,453,658,000 after acquiring an additional 1,702,342 shares during the last quarter. State Street Corp lifted its position in NIKE by 2.2% in the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker's stock valued at $3,802,807,000 after purchasing an additional 1,275,494 shares during the last quarter. Capital World Investors lifted its position 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 purchasing an additional 6,830,938 shares during the last quarter. J. Stern & Co. LLP boosted its stake in shares of NIKE by 49,010.4% during 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 purchasing an additional 47,956,692 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of NIKE by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker's stock valued at $1,677,251,000 after purchasing an additional 233,925 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Oppenheimer lowered its price target to $60 but kept an outperform rating, signaling some analysts still see meaningful upside from current levels. Oppenheimer target update
• Positive Sentiment: Investors are also watching for any improvement from NIKE’s “Win Now” turnaround strategy and upcoming guidance, which could help support sentiment if management shows clearer progress. Nike fiscal Q4 preview
• Neutral Sentiment: NIKE is expected to report results after Tuesday’s close, and traders are bracing for a potentially large post-earnings move as attention centers on revenue trends, margins, and forward guidance. Investopedia earnings move preview
• Neutral Sentiment: Wall Street is closely focused on the new CFO transition, with investors waiting to see whether leadership changes help or hurt execution in the near term. Nike shares in focus as company names new CFO
• Negative Sentiment: KeyBanc turned more cautious, saying NIKE’s recovery is taking longer than expected amid slower turnaround progress and stronger competition from rivals. KeyBanc downgrade
• Negative Sentiment: Other coverage points to a “soft” quarter, with pressure from China weakness, tariffs, promotions, and operational uncertainty weighing on expectations ahead of earnings. Nike likely to report soft quarterly results
• Negative Sentiment: Stifel and Deutsche Bank also cut price targets, reinforcing a more cautious Street view before the report. Stifel target cut Deutsche Bank target cut

Insider Activity

In related news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares of the company's stock, valued at $2,453,681.94. This trade represents a 24.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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. Also, Director John W. Rogers, Jr. acquired 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the purchase, the director directly owned 41,022 shares of the company's stock, valued at $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NKE has been the topic of several analyst reports. CICC Research downgraded shares of NIKE from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $69.00 to $58.00 in a research note on Monday, April 6th. Guggenheim dropped their price target on shares of NIKE from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Wednesday, April 1st. Robert W. Baird cut their price target on shares of NIKE from $85.00 to $70.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. UBS Group set a $50.00 price target on shares of NIKE and gave the stock a "neutral" rating in a report on Wednesday, June 10th. Finally, Weiss Ratings cut shares of NIKE from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, June 8th. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of "Hold" and an average target price of $59.01.

NIKE Stock Up 0.0%

Shares of NYSE:NKE opened at $40.76 on Monday. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The firm has a market capitalization of $60.36 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.77 and a beta of 1.12. The stock has a 50 day moving average price of $44.19 and a 200-day moving average price of $53.89. 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 quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share 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 return on equity of 16.41% and a net margin of 4.84%.The firm's revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. As a group, equities research analysts anticipate that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, June 1st. NIKE's payout ratio is 108.61%.

NIKE 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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