State Street Corp Purchases 4,052,428 Shares of NIKE, Inc. $NKE

Key Points

• State Street increased its NIKE stake by 6.8%, purchasing 4.05 million additional shares to own 63.6 million shares worth approximately $2.64 billion. Institutional investors collectively hold 64.25% of NIKE’s stock.
• NIKE shares opened at $36.09, near their 52-week low of $35.35, while the company’s latest quarterly results exceeded expectations with $0.20 in EPS and $10.97 billion in revenue. NIKE also announced a quarterly dividend of $0.41 per share, equivalent to a 4.5% annualized yield.
• Analyst sentiment remains cautious, with an overall “Hold” rating and an average price target of $48.77 after several firms lowered their targets. The company is pursuing a marketplace reset focused on rebuilding wholesale distribution, reducing promotions and improving full-price sales.

State Street Corp boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 6.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,598,789 shares of the footwear maker's stock after purchasing an additional 4,052,428 shares during the quarter. State Street Corp owned about 4.29% of NIKE worth $2,636,104,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC bought a new position in NIKE in the 4th quarter valued at approximately $26,000. Sankala Group LLC bought a new position in shares of NIKE during the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new position in shares of NIKE during the first quarter valued at $25,000. Meeder Asset Management Inc. lifted its holdings in shares of NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker's stock worth $29,000 after purchasing an additional 285 shares during the period. Finally, Atlas Wealth LLC acquired a new position in shares of NIKE during the first quarter worth $31,000. Institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

NKE opened at $36.09 on Wednesday. NIKE, Inc. has a 1-year low of $35.35 and a 1-year high of $76.97. The company has a market cap of $53.55 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 1.84 and a beta of 1.10. The company's fifty day moving average price is $40.04 and its two-hundred day moving average price is $43.93. 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 (NYSE:NKE - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.14 EPS. On average, analysts expect that NIKE, Inc. will post 1.67 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 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 4.5%. The ex-dividend date is Tuesday, September 1st. NIKE's dividend payout ratio (DPR) is currently 78.47%.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s planned marketplace reset—rebuilding wholesale distribution, reducing promotions and emphasizing full-price sales—could improve profitability and restore brand reach over time. NIKE's Marketplace Strategy: Balancing Reach and Profitability?
• Positive Sentiment: NIKE previously exceeded quarterly EPS expectations by 54%, providing a potential catalyst if the company can repeat that performance in the upcoming report. Its elevated dividend yield is also attracting income-focused investors, with a quarterly payment scheduled for next month. Nike Beat Last Quarter's EPS Estimate by 54% — Can It Repeat That Oct. 1?
• Positive Sentiment: The appointment of LVMH executive Alexandre Arnault to NIKE’s board may add luxury, international and consumer-brand expertise to its recovery efforts. Nike Brings in LVMH's Alexandre Arnault as it Drops out of the S&P 100

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on NIKE from $45.00 to $40.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 1st. CICC Research reduced their price target on NIKE from $58.00 to $44.80 and set a "neutral" rating on the stock in a research report on Thursday, July 2nd. Guggenheim reissued a "buy" rating and issued a $60.00 price target (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. Sanford C. Bernstein restated an "outperform" rating and set a $68.00 price objective (down from $72.00) on shares of NIKE in a research report on Wednesday, July 29th. Finally, BMO Capital Markets assumed coverage on NIKE in a research note on Tuesday, September 8th. They issued an "underperform" rating and a $30.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty-one have given a Hold rating and six have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $48.77.

Insider Buying and Selling at NIKE

In other NIKE news, COO Venkatesh Alagirisamy sold 3,671 shares of NIKE stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the transaction, the chief operating officer owned 104,862 shares of the company's stock, valued at $3,941,762.58. The trade was a 3.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Matthew Friend sold 2,463 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 82,165 shares in the company, valued at $3,418,064. This represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,974 shares of company stock worth $600,126 over the last three months. Company insiders own 1.10% of the company's stock.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE's offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.

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