NIKE, Inc. $NKE Shares Bought by Saturna Capital Corp

Key Points

• Saturna Capital Corp boosted its NIKE stake by 18.5% in the first quarter, buying 55,710 additional shares and bringing its total holdings to 356,440 shares valued at about $18.8 million.
• NIKE’s latest quarter topped expectations, with EPS of $0.20 versus $0.11 expected and revenue of $10.97 billion versus $10.85 billion forecast, though revenue still fell 1.1% year over year.
• Wall Street sentiment remains cautious: several analysts have trimmed price targets, and the consensus rating is Hold with an average price target of $53.86, reflecting ongoing concerns about demand and the company’s turnaround.

Saturna Capital Corp increased its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 18.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,440 shares of the footwear maker's stock after purchasing an additional 55,710 shares during the quarter. Saturna Capital Corp's holdings in NIKE were worth $18,827,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of NIKE by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock valued at $7,453,658,000 after buying an additional 1,702,342 shares in the last quarter. State Street Corp boosted its stake in shares of NIKE by 2.2% during the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker's stock worth $3,802,807,000 after acquiring an additional 1,275,494 shares in the last quarter. Capital World Investors boosted its stake in shares of NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker's stock worth $3,126,246,000 after acquiring an additional 6,830,938 shares in the last quarter. J. Stern & Co. LLP grew its holdings in shares of NIKE by 49,010.4% in the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker's stock worth $3,061,555,000 after acquiring an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of NIKE by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker's stock worth $1,677,251,000 after acquiring an additional 233,925 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is restructuring its China e-commerce strategy by steering shoppers to official channels and cutting off thousands of third-party online distributors, a move that could improve brand control, reduce marketplace clutter, and support margins. Nike to cut off thousands of online distributors in China, restructure digital footprint
• Positive Sentiment: The company’s focus on new performance products, advanced technologies, and its “Sport Offense” strategy could help reignite demand over time if the innovation pipeline converts into stronger sales. NIKE's Innovation Pipeline: Can New Products Spark Demand?
• Neutral Sentiment: Analyst commentary and market-activity coverage suggest investors are closely monitoring NIKE’s turnaround story, but these items do not appear to add a major new catalyst on their own. SA analyst upgrades/downgrades: NKE, DDOG, BIDU, INTC
• Neutral Sentiment: Commentary on NIKE’s broader brand reset, retail growth strategy, and stock activity reflects ongoing debate about the turnaround, but these headlines are more diagnostic than immediately actionable. Nike NYSE: NKE Faces A Crucial Brand Reset
• Neutral Sentiment: Coverage noting NIKE’s miss on World Cup final exposure and LeBron James’ criticism underscores brand relevance concerns, but the effect is longer-term and harder to quantify immediately. Nike Misses World Cup Final as Adidas Gains Merchandise Opportunity
• Negative Sentiment: Ongoing concerns about weak consumer demand, heavy discounting in key Sportswear and Jordan lines, and questions about cultural relevance continue to weigh on sentiment for NIKE. The Bull Case For NIKE (NKE) Could Change Following Missed World Cup Moment And Brand Relevance Questions
• Negative Sentiment: LeBron James’ comments that NIKE needs to reconnect with local communities and consumers reinforce the view that the brand still has a turnaround problem to solve. LeBron James exposes Nike’s hidden turnaround problem

Insiders Place Their Bets

In other news, EVP Philip Mccartney sold 17,398 shares of the company's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NKE shares. Barclays reduced their target price on NIKE from $67.00 to $52.00 and set an "overweight" rating for the company in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft lifted their price target on NIKE from $43.00 to $45.00 and gave the stock a "hold" rating in a research note on Friday, July 17th. China Renaissance cut their price objective on NIKE from $50.30 to $47.30 and set a "hold" rating on the stock in a report on Thursday, July 2nd. Wall Street Zen raised shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Truist Financial decreased their target price on shares of NIKE from $69.00 to $57.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nineteen have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $53.86.

NIKE Price Performance

NKE opened at $42.99 on Wednesday. The firm has a market capitalization of $63.66 billion, a P/E ratio of 20.57, a PEG ratio of 1.92 and a beta of 1.12. The stock has a fifty day moving average of $43.70 and a 200-day moving average of $51.52. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 12-month low of $40.00 and a 12-month high of $80.17.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 earnings per share. Equities analysts forecast that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.8%. NIKE's dividend payout ratio (DPR) is presently 78.47%.

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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