ProShare Advisors LLC Increases Stock Position in NIKE, Inc. $NKE

Key Points

• ProShare Advisors LLC increased its NIKE position by 11.9% in the fourth quarter, adding 35,522 shares and bringing its total stake to 333,961 shares worth about $21.3 million.
• Insider buying was notable, with Director John W. Rogers, Jr. and CEO Elliott Hill both purchasing shares; insiders bought 64,441 shares total over the last 90 days.
• NIKE reported quarterly earnings of $0.35 per share, beating estimates, while revenue came in slightly above expectations. The company also announced a $0.41 quarterly dividend for a 3.7% annualized yield.

ProShare Advisors LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 333,961 shares of the footwear maker's stock after acquiring an additional 35,522 shares during the period. ProShare Advisors LLC's holdings in NIKE were worth $21,277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. Guerra Advisors Inc acquired a new stake in NIKE in the 3rd quarter valued at approximately $34,000. Gordian Capital Singapore Pte Ltd acquired a new position in NIKE during the third quarter worth $35,000. Accredited Wealth Management LLC boosted its position in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock worth $36,000 after buying an additional 376 shares during the period. Matrix Trust Co boosted its position in shares of NIKE by 43.6% during the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock worth $38,000 after buying an additional 181 shares during the period. Finally, Ares Financial Consulting LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $40,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 4,000 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was acquired at an average cost of $43.34 per share, with a total value of $173,360.00. Following the transaction, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Elliott Hill bought 23,660 shares of the stock in a transaction that occurred on Monday, April 13th. The shares were purchased at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the purchase, the chief executive officer owned 265,247 shares of the company's stock, valued at approximately $11,211,990.69. This represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 64,441 shares of company stock valued at $2,734,204 in the last 90 days. Company insiders own 0.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BNP Paribas Exane lowered their target price on NIKE from $35.00 to $23.00 and set an "underperform" rating for the company in a report on Wednesday, April 1st. Wells Fargo & Company set a $45.00 price target on shares of NIKE and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Weiss Ratings cut shares of NIKE from a "sell (d+)" rating to a "sell (d)" rating in a research report on Monday, May 4th. Jefferies Financial Group lowered their price objective on shares of NIKE from $110.00 to $90.00 and set a "buy" rating for the company in a research note on Wednesday, April 1st. Finally, Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $62.04.

NIKE Stock Performance

Shares of NIKE stock opened at $44.20 on Thursday. NIKE, Inc. has a one year low of $41.35 and a one year high of $80.17. The company has a market cap of $65.45 billion, a PE ratio of 29.27, a P/E/G ratio of 2.25 and a beta of 1.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The business has a 50-day simple moving average of $47.05 and a 200-day simple moving average of $57.55.

NIKE (NYSE:NKE - Get Free Report) last issued 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 firm had revenue of $11.28 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm's revenue was up .1% compared to the same quarter last year. On average, equities research analysts forecast that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Announces Dividend

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

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Unusual options activity pointed to bullish positioning, with investors buying 181,748 call options on NIKE, well above the recent average, suggesting traders are betting on further upside.
• Positive Sentiment: NIKE shares gained alongside discretionary stocks as softer energy prices and easing Treasury yields improved sentiment toward consumer names, which can support spending expectations and valuation multiples. Nike Stock Soars As Energy Prices And Bond Yields Drop
• Neutral Sentiment: Market commentary continues to debate whether NIKE is attractive at current levels, with some analysts saying the stock is still not cheap enough while others argue the risk/reward is becoming more balanced. Nike: Tough Environment, But Risks Are Priced In Nike: Not Cheap Enough Yet
• Neutral Sentiment: Additional coverage focused on NIKE’s strategic efforts, including discussion of China, athlete-led innovation, and AI-related initiatives, but these headlines do not yet point to a clear near-term fundamental catalyst.
• Negative Sentiment: Persistent worries about China remain a drag on sentiment, with reports citing weak demand, tougher local competition, and inventory issues that could continue to pressure sales and margins.
• Negative Sentiment: Some investors remain cautious after NIKE’s recent struggles, and commentary that the company is “struggling” reinforces concerns that a full recovery may take time.

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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