NIKE, Inc. $NKE Holdings Cut by Carnegie Lake Advisors LLC

Key Points

• Carnegie Lake Advisors slashed its NIKE stake by 96.4% in the third quarter, selling 36,550 shares and retaining 1,365 shares valued at about $48,000.
• NIKE beat quarterly earnings-per-share estimates, reporting $0.48 versus $0.43 expected, but revenue of $11.21 billion fell short of forecasts and declined 4.3% year over year.
• Analyst sentiment is cautious: MarketBeat reports a “Reduce” consensus rating and a $40.91 average price target, with 12 analysts rating the shares Sell and 20 rating them Hold.

Carnegie Lake Advisors LLC decreased its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 96.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,365 shares of the footwear maker's stock after selling 36,550 shares during the period. Carnegie Lake Advisors LLC's holdings in NIKE were worth $48,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. FAS Wealth Partners Inc. increased its holdings in shares of NIKE by 4.2% in the 1st quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker's stock worth $323,000 after buying an additional 249 shares during the last quarter. Elevation Wealth Partners LLC increased its position in shares of NIKE by 34.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 989 shares of the footwear maker's stock valued at $41,000 after purchasing an additional 254 shares during the last quarter. Midwest Professional Planners LTD. boosted its stake in NIKE by 1.5% in the first quarter. Midwest Professional Planners LTD. now owns 17,904 shares of the footwear maker's stock worth $946,000 after buying an additional 266 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in NIKE by 15.4% in the third quarter. Salomon & Ludwin LLC now owns 2,019 shares of the footwear maker's stock worth $71,000 after buying an additional 269 shares in the last quarter. Finally, Westside Investment Management Inc. grew its position in NIKE by 8.4% during the third quarter. Westside Investment Management Inc. now owns 3,484 shares of the footwear maker's stock valued at $123,000 after acquiring an additional 270 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Up 0.1%

Shares of NYSE NKE opened at $38.61 on Monday. The firm has a fifty day simple moving average of $36.91 and a two-hundred day simple moving average of $45.63. NIKE, Inc. has a 12 month low of $31.97 and a 12 month high of $69.14. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $57.35 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 4.51 and a beta of 1.01.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.43 by $0.05. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The firm had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. Equities analysts expect that NIKE, Inc. will post 1.22 earnings per share for the current year.

Insider Activity

In other NIKE news, EVP Philip McCartney sold 2,559 shares of NIKE stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $96,192.81. Following the sale, the executive vice president directly owned 78,121 shares of the company's stock, valued at approximately $2,936,568.39. The trade was a 3.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of NIKE 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 $137,992.89. Following the sale, the chief operating officer directly owned 104,862 shares in the company, valued at approximately $3,941,762.58. The trade was a 3.38% 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. Company insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on NKE. Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a research note on Saturday, October 3rd. Jefferies Financial Group set a $60.00 price target on NIKE in a research report on Friday, October 2nd. HSBC lowered their price objective on NIKE from $48.00 to $40.00 and set a "hold" rating for the company in a research report on Monday, September 28th. Telsey Advisory Group set a $35.00 price objective on NIKE and gave the company a "market perform" rating in a research note on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $33.00 price objective on shares of NIKE in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty have assigned a Hold rating and twelve have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and a consensus price target of $40.91.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares gained 13.9% over the past month, with performance categories and North America showing traction. However, persistent China weakness and earnings pressure make the durability of the rebound uncertain. Read article
• Neutral Sentiment: RBC expects NIKE’s five-year financial targets to be broadly in line with consensus, suggesting its Capital Markets Day may clarify strategy without providing a major near-term catalyst for the stock. Read article
• Negative Sentiment: Analyst caution is weighing on sentiment: Truist downgraded NIKE to “sell” with a $29 target, while UBS maintained “neutral” and a $34 target, warning the recovery may lag valuation expectations. RBC also cut its target to $39 and kept a sector-perform rating. Read article
• Negative Sentiment: Reports point to shrinking Jordan and Dunk sales, with the CEO acknowledging a prior blind spot. A pullback in Jordan sneakers could also create an opening for competitors. Read article
• Negative Sentiment: NIKE’s fiscal 2027 outlook highlights potential sales and earnings pressure; planned $2.5 billion in cost savings could help longer term but may not offset near-term revenue risks. China remains a key concern, with sales there down 25% year over year in the latest reported quarter. Read article

NIKE Company Profile

NIKE, Inc designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories.

The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.

NIKE traces its roots to Blue Ribbon Sports, founded in 1964 by Phil Knight and Bill Bowerman.

Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE - Free Report).

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.