NIKE, Inc. $NKE Stock: Assenagon Asset Management S.A. Grows Stake

Assenagon Asset Management S.A. boosted its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 92.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,789,274 shares of the footwear maker's stock after purchasing an additional 2,298,400 shares during the period. Assenagon Asset Management S.A. owned about 0.32% of NIKE worth $169,540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of NIKE by 6.8% during 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 during the period. Janus Henderson Group PLC increased its position in NIKE by 12.5% during the fourth quarter. Janus Henderson Group PLC now owns 7,887,609 shares of the footwear maker's stock valued at $502,537,000 after acquiring an additional 874,662 shares during the last quarter. Flossbach Von Storch SE purchased a new stake in NIKE during the second quarter valued at $488,714,000. Amundi lifted its holdings in NIKE by 59.4% in the second quarter. Amundi now owns 6,460,398 shares of the footwear maker's stock valued at $265,199,000 after acquiring an additional 2,406,609 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in NIKE by 4.8% in the second quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker's stock valued at $256,885,000 after acquiring an additional 286,395 shares during the period. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on NIKE from $40.00 to $33.00 and set an "underweight" rating for the company in a research note on Friday, October 2nd. Weiss Ratings cut NIKE from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, October 6th. Evercore decreased their target price on NIKE from $46.00 to $28.00 in a report on Monday, September 28th. Rothschild & Co Redburn lowered their target price on NIKE from $45.00 to $37.00 and set a "sell" rating on the stock in a research report on Friday, July 17th. Finally, Morgan Stanley set a $27.00 price target on NIKE and gave the company an "underweight" rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-one have issued a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of "Reduce" and a consensus price target of $41.07.

NIKE Stock Up 5.3%

NKE opened at $37.19 on Friday. The firm's fifty day moving average is $37.57 and its 200 day moving average is $41.65. NIKE, Inc. has a fifty-two week low of $31.97 and a fifty-two week high of $70.44. The stock has a market cap of $55.23 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 3.99 and a beta of 1.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 2.07.

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

NIKE Dividend Announcement

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

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Investors seeking value boosted heavily sold consumer stocks, including Nike, as concerns about excessive AI spending prompted a shift away from technology shares. These Consumer Stocks Are Getting a Lift as Investors Rotate Out of Tech
• Positive Sentiment: Options activity was unusually strong, with traders purchasing approximately 181,646 NKE call options—about 27% above average volume—signaling increased bullish speculation, although it does not guarantee lasting gains.
• Neutral Sentiment: Recent commentary highlights Nike’s potential appeal as a turnaround and value investment after its steep decline, while noting that management still has to execute on its recovery strategy. Investigating one stock at a time before buying: Nike
• Negative Sentiment: Nike’s fundamental outlook remains challenging. Recent quarterly revenue declined 4.3% year over year to $11.21 billion, while Greater China sales reportedly fell 22%; management is also restructuring as sales weaken and costs rise. Nike Is Restructuring the Business
• Negative Sentiment: Investors face longer-term risks to income and valuation: Nike’s free cash flow may no longer fully cover its dividend, raising concerns ahead of the next dividend announcement after 24 consecutive years of increases. Nike Has Raised Its Dividend for 24 Straight Years

Insider Transactions at NIKE

In related news, EVP Philip McCartney sold 2,559 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 $96,192.81. Following the sale, the executive vice president owned 78,121 shares in the company, 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 document filed with the SEC, which is accessible 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 stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $137,992.89. Following the transaction, the chief operating officer owned 104,862 shares of the company's stock, valued at $3,941,762.58. This trade represents a 3.38% 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. Over the last ninety days, insiders sold 14,974 shares of company stock valued at $600,126. 1.10% of the stock is owned by company insiders.

About NIKE

NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.

The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.

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