NIKE, Inc. $NKE Shares Sold by Cibc World Market Inc.

Key Points

• Cibc World Market Inc. cut its NIKE stake by 19.3% in the fourth quarter, selling 97,733 shares and leaving it with 408,764 shares worth about $26.0 million.
• Institutional activity around NIKE was mixed: while some funds reduced exposure, others added shares, and 64.25% of NIKE is now owned by institutional investors and hedge funds.
• Sentiment on NIKE remains cautious, with reports citing inventory issues, weak sportswear demand, China headwinds, and analyst downgrades; the stock also trades well below its 52-week high despite recent insider buying.

Cibc World Market Inc. trimmed its position in NIKE, Inc. (NYSE:NKE - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 408,764 shares of the footwear maker's stock after selling 97,733 shares during the period. Cibc World Market Inc.'s holdings in NIKE were worth $26,042,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Disciplined Investors L.L.C. acquired a new position in NIKE in the 4th quarter valued at $1,307,000. CIBC Asset Management Inc boosted its holdings in shares of NIKE by 59.3% during the fourth quarter. CIBC Asset Management Inc now owns 312,763 shares of the footwear maker's stock worth $19,926,000 after purchasing an additional 116,464 shares during the last quarter. Central Securities Corp boosted its holdings in shares of NIKE by 11.1% during the fourth quarter. Central Securities Corp now owns 500,000 shares of the footwear maker's stock worth $31,855,000 after purchasing an additional 50,000 shares during the last quarter. Natixis Advisors LLC grew its position in shares of NIKE by 23.1% in the fourth quarter. Natixis Advisors LLC now owns 1,785,365 shares of the footwear maker's stock valued at $113,746,000 after purchasing an additional 334,690 shares during the period. Finally, Beaton Management Co. Inc. grew its position in shares of NIKE by 3.4% in the fourth quarter. Beaton Management Co. Inc. now owns 16,121 shares of the footwear maker's stock valued at $1,027,000 after purchasing an additional 525 shares during the period. 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:

• Negative Sentiment: NIKE faces renewed pressure from inventory cleanup, sportswear weakness, and China headwinds that may keep sales and margins under strain. NKE Stock Slips Below 50-Day SMA: A Warning Sign for Investors?
• Negative Sentiment: Zacks Research downgraded NIKE from hold to strong sell, which can weigh on investor sentiment. Zacks downgrade report
• Negative Sentiment: A DCF analysis from GuruFocus suggested NIKE may be trading well above its estimated intrinsic value, reinforcing valuation concerns. NKE DCF Analysis: Intrinsic Value $19 vs Price $44
• Neutral Sentiment: Several articles noted that NIKE is attracting investor attention, but did not add new fundamental catalysts beyond general market interest. NIKE, Inc. (NKE) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: NIKE’s AI push and internal automation efforts highlight a longer-term efficiency strategy, but investors are still questioning near-term margin benefits and dividend strength. Nike’s AI Push Raises Questions On Margins And Dividend Strength
• Neutral Sentiment: NIKE’s upcoming connection to Lululemon’s CEO transition is notable, as incoming Lululemon CEO Heidi O’Neill will join after her NIKE non-compete expires, but the article is more relevant to LULU than NKE. Lululemon's next CEO knows how to get it 'back on track': Analyst

Insider Buying and Selling

In related news, Director Robert Holmes Swan purchased 11,781 shares of NIKE stock in a transaction that occurred on Tuesday, April 7th. The shares were purchased at an average cost of $42.44 per share, with a total value of $499,985.64. Following the transaction, the director owned 55,074 shares of the company's stock, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Elliott Hill purchased 23,660 shares of the firm's stock in a transaction on Monday, April 13th. The stock was bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the acquisition, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. This trade represents a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 64,441 shares of company stock worth $2,734,204 over the last three months. 0.80% of the stock is currently owned by corporate insiders.

NIKE Price Performance

NKE opened at $43.66 on Friday. NIKE, Inc. has a 52-week low of $41.35 and a 52-week high of $80.17. The company has a 50 day moving average of $45.05 and a two-hundred day moving average of $56.17. The company has a market cap of $64.65 billion, a P/E ratio of 28.91, a P/E/G ratio of 1.87 and a beta of 1.12. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The business's quarterly revenue was up .1% on a year-over-year basis. On average, analysts expect that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, June 1st. NIKE's payout ratio is currently 108.61%.

Wall Street Analyst Weigh In

NKE has been the topic of several recent analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of NIKE in a research report on Thursday. Citigroup lowered their price target on NIKE from $65.00 to $53.00 and set a "neutral" rating for the company in a report on Wednesday, April 1st. Sanford C. Bernstein reaffirmed a "buy" rating on shares of NIKE in a research note on Monday, May 11th. Williams Trading cut their price objective on shares of NIKE from $80.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, April 1st. Finally, China Renaissance decreased their target price on shares of NIKE from $74.60 to $50.30 and set a "hold" rating on the stock in a research report on Thursday, April 2nd. Sixteen analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, NIKE presently has a consensus rating of "Hold" and an average target price of $62.04.

NIKE Company Profile

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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