NIKE, Inc. $NKE Shares Newly Acquired by Arkfeld Wealth Strategies L.L.C.

Key Points

• Arkfeld Wealth Strategies acquired 111,668 NIKE shares worth approximately $3.84 million, making NKE about 1% of its portfolio. Institutional investors and hedge funds collectively own 64.25% of the stock.
• Analyst sentiment remains cautious: NIKE has an average “Reduce” rating and a $41.07 average price target, with several firms recently lowering their targets. The stock recently traded near $37, well below its 12-month high of $70.44.
• NIKE beat quarterly EPS estimates, reporting $0.48 versus the expected $0.43, though revenue fell 4.3% year over year to $11.21 billion. The company also maintains a quarterly dividend of $0.41 per share, representing a 4.4% annualized yield.

Arkfeld Wealth Strategies L.L.C. bought a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 111,668 shares of the footwear maker's stock, valued at approximately $3,837,000. NIKE comprises about 1.0% of Arkfeld Wealth Strategies L.L.C.'s investment portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flossbach Von Storch SE acquired a new stake in shares of NIKE in the second quarter valued at approximately $488,714,000. State Street Corp grew its holdings in NIKE by 6.8% in the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker's stock valued at $2,636,104,000 after buying an additional 4,052,428 shares in the last quarter. Confluence Investment Management LLC grew its holdings in NIKE by 873.8% in the 3rd quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker's stock valued at $96,310,000 after buying an additional 2,441,233 shares in the last quarter. Equity Investment Corp acquired a new stake in shares of NIKE in the 2nd quarter worth $99,531,000. Finally, Amundi increased its stake in shares of NIKE by 59.4% in the 2nd quarter. Amundi now owns 6,460,398 shares of the footwear maker's stock worth $265,199,000 after acquiring an additional 2,406,609 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NKE. Jefferies Financial Group set a $60.00 price target on NIKE in a report on Friday, October 2nd. The Goldman Sachs Group reissued a "neutral" rating and issued a $30.00 price objective (down from $38.00) on shares of NIKE in a report on Friday, October 2nd. Wall Street Zen cut shares of NIKE from a "hold" rating to a "sell" rating in a research report on Saturday, October 3rd. Piper Sandler set a $28.00 target price on shares of NIKE and gave the stock a "neutral" rating in a research note on Friday, October 2nd. Finally, HSBC reduced their target price on shares of NIKE from $48.00 to $40.00 and set a "hold" rating on the stock in a research note on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have given a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of "Reduce" and an average target price of $41.07.

Insider Transactions at NIKE

In other news, EVP Philip McCartney sold 2,559 shares of NIKE stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the business's stock in a transaction 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 completion of the sale, the chief operating officer owned 104,862 shares in the company, valued at $3,941,762.58. This represents a 3.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,974 shares of company stock valued at $600,126 over the last three months. 1.10% of the stock is currently owned by company insiders.

NIKE Trading Down 0.3%

NKE stock traded down $0.12 during mid-day trading on Monday, hitting $37.01. 8,347,044 shares of the company were exchanged, compared to its average volume of 24,742,426. NIKE, Inc. has a 12-month low of $31.97 and a 12-month high of $70.44. The firm has a market capitalization of $54.96 billion, a P/E ratio of 17.81, a PEG ratio of 4.19 and a beta of 1.09. The business has a fifty day simple moving average of $37.48 and a 200-day simple moving average of $41.56. The company has a quick ratio of 1.39, a current ratio of 2.07 and a debt-to-equity ratio of 0.39.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.05. The business had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.32 billion. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The business's revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, equities research analysts predict that NIKE, Inc. will post 1.26 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, September 1st. NIKE's dividend payout ratio is 78.85%.

NIKE Profile

NIKE, Inc is a global athletic footwear, apparel, equipment and accessories company headquartered near Beaverton, Oregon. The company designs, develops, markets and sells products under the Nike, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE's product portfolio includes athletic and casual footwear, performance and lifestyle apparel, sports equipment, accessories and digital fitness-related offerings. The company distributes its products through company-owned retail stores, digital platforms and wholesale partners, while also operating direct-to-consumer and membership programs.

The company traces its origins to 1964, when Phil Knight and Bill Bowerman founded Blue Ribbon Sports.

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