NIKE, Inc. $NKE Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 24.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,656,406 shares of the footwear maker's stock after selling 3,522,076 shares during the period. Bank of America Corp DE owned 0.72% of NIKE worth $437,445,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bontempo Ohly Capital Mgmt LLC boosted its holdings in shares of NIKE by 3.2% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 76,545 shares of the footwear maker's stock valued at $3,142,000 after buying an additional 2,397 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of NIKE during the second quarter valued at about $1,971,000. Ally Financial Inc. bought a new stake in shares of NIKE during the 2nd quarter worth about $5,460,000. Pinnacle Holdings LLC acquired a new stake in NIKE in the second quarter worth approximately $396,000. Finally, Kiltearn Partners LLP acquired a new stake in shares of NIKE in the second quarter valued at $4,564,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Insiders Place Their Bets

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the 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 $137,992.89. Following the completion of the sale, the chief operating officer directly owned 104,862 shares of the company's stock, valued at approximately $3,941,762.58. This represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.05, for a total value of $204,657.35. Following the completion of the sale, the insider directly owned 57,436 shares in the company, valued at $2,415,183.80. This represents a 7.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 14,974 shares of company stock valued at $600,126 over the last ninety days. 1.10% of the stock is owned by insiders.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some investors see NIKE as nearing a bottom after an approximately 80% decline from its record high. Cost reductions, efforts to improve margins, and renewed momentum in running and soccer could support a recovery; at roughly 17.5 times earnings, the valuation is viewed as discounted. Nike's Stock Is Down 80% - I'm Buying
• Neutral Sentiment: NIKE’s upcoming removal from the S&P 100 is drawing attention to its deterioration from a major consumer-brand benchmark, although the development is more a consequence of the company’s decline than a direct change to its operations. Nike's S&P Exit Is a Warning for Every Consumer Brand
• Neutral Sentiment: Investors are looking ahead to NIKE’s earnings report expected early next month, which could provide evidence on whether management’s turnaround is improving demand, margins, and wholesale orders. Should You Buy Nike Stock Before Oct. 1?
• Negative Sentiment: Global wholesale weakness remains the central concern. North America is showing improvement, but international demand—particularly in China—remains soft, while promotional activity is pressuring sales and margins. Analysts say the turnaround has yet to produce meaningful revenue growth. Global Wholesale Weakness Lingers: Can NIKE Reignite Sales?
• Negative Sentiment: Analyst sentiment has deteriorated: Robert W. Baird downgraded NIKE from “strong buy” to “hold,” while Citigroup reduced its price target from $45 to $39 and maintained a neutral rating. Additional target cuts are adding to selling pressure.
• Negative Sentiment: The broader consumer-discretionary sector is weak, contributing to NIKE’s move to a new 52-week low. Concerns include weak consumer demand, China-related challenges, and uncertainty over the pace of the turnaround. Nike Stock Hits 52-Week Low as Consumer Discretionary Lags
• Negative Sentiment: NIKE’s chief legal officer sold 3,646 shares worth approximately $137,000. Although the sale represented only about 4% of his prior holdings, insider selling can reinforce investor concerns while the stock is near its lows. Nike's Chief Legal Officer Sells 3,646 Shares

NIKE Stock Performance

NIKE stock opened at $36.20 on Wednesday. The firm has a market capitalization of $53.70 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.82 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The stock has a fifty day moving average price of $40.78 and a two-hundred day moving average price of $44.81. NIKE, Inc. has a 52-week low of $36.17 and a 52-week high of $76.97.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.5%. NIKE's payout ratio is 78.47%.

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. Oppenheimer reduced their price objective on NIKE from $120.00 to $60.00 and set an "outperform" rating for the company in a research note on Friday, June 26th. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a research note on Tuesday, August 25th. BMO Capital Markets started coverage on NIKE in a research report on Tuesday, September 8th. They issued an "underperform" rating and a $30.00 target price on the stock. Sanford C. Bernstein restated an "outperform" rating and set a $68.00 price target (down from $72.00) on shares of NIKE in a report on Wednesday, July 29th. Finally, Wells Fargo & Company reduced their target price on NIKE from $45.00 to $40.00 and set an "equal weight" rating for the company in a report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty-one have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $49.09.

About NIKE

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

NIKE's offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.

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