NIKE, Inc. $NKE Shares Sold by Truist Financial Corp

Key Points

• Truist reduced its position by 10.4% in NIKE during Q4, selling 37,207 shares and leaving it with 319,425 shares valued at about $20.35 million.
• CEO Elliott Hill and director John W. Rogers Jr. bought stock recently—Hill acquired 23,660 shares at ~$42.27 and Rogers bought 4,000 shares—signaling insider confidence despite institutional churn.
• Wall Street is mixed with a consensus "Hold" and an average price target of $62.34 after several target cuts; Nike kept its $0.41 quarterly dividend and posted an EPS beat ($0.35 vs. $0.29) while the stock trades near its 52-week low (~$42.09).

Truist Financial Corp reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 10.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 319,425 shares of the footwear maker's stock after selling 37,207 shares during the quarter. Truist Financial Corp's holdings in NIKE were worth $20,351,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Guerra Advisors Inc acquired a new stake in NIKE in the third quarter valued at $34,000. Gordian Capital Singapore Pte Ltd acquired a new stake in NIKE in the third quarter valued at $35,000. Accredited Wealth Management LLC lifted its holdings in NIKE by 268.6% in the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock valued at $36,000 after acquiring an additional 376 shares during the period. Strive Asset Management LLC acquired a new stake in NIKE in the third quarter valued at $40,000. Finally, Matrix Trust Co lifted its holdings in NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 181 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKE. Telsey Advisory Group reduced their target price on NIKE from $65.00 to $55.00 and set a "market perform" rating for the company in a report on Wednesday, April 1st. Sanford C. Bernstein reissued a "buy" rating on shares of NIKE in a report on Friday, April 24th. Deutsche Bank Aktiengesellschaft reduced their target price on NIKE from $54.00 to $51.00 and set a "hold" rating for the company in a report on Wednesday, April 1st. China Renaissance reduced their target price on NIKE from $74.60 to $50.30 and set a "hold" rating for the company in a report on Thursday, April 2nd. Finally, Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a research note on Saturday, April 18th. Seventeen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $62.34.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Board keeps quarterly cash dividend (US$0.41/sh) — management maintained the payout payable July 1, which investors interpret as a sign of capital-allocation discipline and confidence in cash flow even as revenue and margins are under pressure. Read More.
• Positive Sentiment: Retail partner endorsement of CEO Elliott Hill — JD Sports publicly praised Hill’s performance, offering third-party confidence in Nike’s distribution and retail strategy that can reassure investors about execution of the “Win Now” plan. Read More.
• Positive Sentiment: Wholesale rebuild driving share gains — management says wholesale recovery is central to restoring earnings stability; investors see this as a credible route to stabilize sales and margins over time. Read More.
• Positive Sentiment: Analyst/valuation commentary highlights upside — several pieces argue NKE’s multi-year drop creates a sizable implied upside to consensus targets and even index-rebalance chatter has surfaced, supporting speculative buying. Read More.
• Neutral Sentiment: Brokerage note: Berenberg reaffirmed a “neutral” rating — a reminder that some analysts remain cautious and see risk/reward as balanced at current levels. Read More.
• Negative Sentiment: Regulatory probe into DEI practices — the EEOC investigation raises governance/people-risk uncertainty and could lead to reputational and legal costs, which investors price as a near-term headwind. Read More.
• Negative Sentiment: Short interest/bets and media scrutiny piling on CEO — Reuters reports growing bearish wagers that amplify pressure on management and can increase volatility and downside risk if execution slips. Read More.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. acquired 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The stock was purchased at an average price of $43.34 per share, for a total transaction of $173,360.00. Following the transaction, the director owned 41,022 shares in the company, valued at $1,777,893.48. This trade represents a 10.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Elliott Hill acquired 23,660 shares of the company's stock in a transaction that occurred on Monday, April 13th. The shares were bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the transaction, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. This represents a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by company insiders.

NIKE Trading Up 1.9%

NYSE:NKE opened at $43.87 on Thursday. The company has a market capitalization of $64.97 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 2.28 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, Inc. has a 52-week low of $42.09 and a 52-week high of $80.17. The stock has a fifty day simple moving average of $50.56 and a 200-day simple moving average of $59.30.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business's revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. On average, equities research analysts expect that NIKE, Inc. will post 1.51 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, June 1st. NIKE's dividend payout ratio (DPR) is currently 108.61%.

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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