Beacon Pointe Advisors LLC decreased its stake in NIKE, Inc. (NYSE:NKE - Free Report) by 23.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,908 shares of the footwear maker's stock after selling 29,188 shares during the period. Beacon Pointe Advisors LLC's holdings in NIKE were worth $3,937,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. State Street Corp raised its stake in shares of NIKE by 2.2% during 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 in the last quarter. Capital World Investors increased its stake in shares of NIKE by 16.2% during 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 acquiring an additional 6,830,938 shares during the period. J. Stern & Co. LLP increased 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 acquiring an additional 47,956,692 shares during the period. Geode Capital Management LLC raised its holdings in NIKE by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker's stock worth $1,677,251,000 after purchasing an additional 233,925 shares in the last quarter. Finally, Harris Associates L P raised its holdings in NIKE by 72.3% during the fourth quarter. Harris Associates L P now owns 14,956,882 shares of the footwear maker's stock worth $952,903,000 after purchasing an additional 6,277,987 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.
NIKE Price Performance
Shares of NYSE:NKE opened at $39.57 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 1 year low of $38.17 and a 1 year high of $79.13. The business has a fifty day simple moving average of $41.91 and a 200 day simple moving average of $47.11. The firm has a market cap of $58.70 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.76 and a beta of 1.11.
NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.
NIKE Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.1%. The ex-dividend date is Tuesday, September 1st. NIKE's dividend payout ratio is presently 78.47%.
Wall Street Analysts Forecast Growth
NKE has been the subject of several research analyst reports. Citigroup restated a "neutral" rating on shares of NIKE in a report on Wednesday, July 22nd. The Goldman Sachs Group dropped their price target on shares of NIKE from $46.00 to $42.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 1st. Stifel Nicolaus set a $45.00 price objective on shares of NIKE and gave the company a "hold" rating in a research report on Wednesday, July 1st. BNP Paribas Exane reaffirmed an "underperform" rating on shares of NIKE in a research note on Wednesday, July 22nd. Finally, Berenberg Bank set a $49.00 target price on shares of NIKE and gave the stock a "hold" rating in a report on Friday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, NIKE has an average rating of "Hold" and a consensus target price of $52.94.
Read Our Latest Research Report on NKE
Insider Activity at NIKE
In related news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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, CFO Matthew Friend sold 2,463 shares of the firm's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $102,460.80. Following the completion of the sale, the chief financial officer owned 82,165 shares of the company's stock, valued at $3,418,064. This represents a 2.91% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,142 shares of company stock valued at $1,169,380 in the last quarter. Company insiders own 1.10% of the company's stock.
Trending Headlines about NIKE
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
- Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
- Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
- Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
- Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
- Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.
NIKE Profile
(
Free Report)
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).
See Also
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