Swiss National Bank Has $207.64 Million Stock Position in NIKE, Inc. $NKE

Key Points

• Swiss National Bank trimmed its NIKE stake by 4.0% in the fourth quarter, selling 136,900 shares and ending with 3.26 million shares worth about $207.64 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding about 64.25% of NIKE’s shares; several firms recently added to or opened positions in the stock.
• Analyst sentiment is cautious: multiple firms cut price targets or downgraded NIKE, and the consensus view is currently Hold with an average target price of $60.89, reflecting concerns about the turnaround pace and limited near-term catalysts.

Swiss National Bank reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 4.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,259,100 shares of the footwear maker's stock after selling 136,900 shares during the period. Swiss National Bank owned about 0.22% of NIKE worth $207,637,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Westerkirk Capital Inc. lifted its position in NIKE by 52.4% during the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker's stock worth $8,360,000 after acquiring an additional 45,100 shares during the last quarter. Mizuho Markets Cayman LP acquired a new stake in NIKE during the third quarter worth approximately $34,200,000. PFA Pension Forsikringsaktieselskab acquired a new stake in NIKE during the fourth quarter worth approximately $43,188,000. Strive Asset Management LLC acquired a new stake in NIKE during the third quarter worth approximately $1,743,000. Finally, Nicholas Company Inc. lifted its position in NIKE by 33.3% during the fourth quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker's stock worth $7,878,000 after acquiring an additional 30,890 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE should get an attention boost from the World Cup, which gives the company a high-profile stage to promote its brand and compete more directly with Adidas. Nike's World Cup play: take on Adidas and revitalize the brand
• Neutral Sentiment: Recent valuation commentary suggests the stock has had mixed performance, with short-term gains offset by weakness over the longer term, keeping investor sentiment cautious. A Look At Nike (NKE) Valuation As Recent Share Performance Remains Mixed
• Negative Sentiment: RBC Capital downgraded NIKE to Sector Perform/Hold and cut its price target, saying the company’s turnaround is taking longer than expected and near-term catalysts look limited. Nike Could Get a World Cup Boost. But Stay Behind the Touchline, Analysts Say.
• Negative Sentiment: Citigroup also lowered its price target on NIKE and kept a neutral view, adding to concerns about margins, brand reset progress, and the credibility of management’s financial targets. Citigroup adjusts Nike's PT to 47 from 53, maintains Neutral rating
• Negative Sentiment: Commentary from analysts and media outlets echoed the same theme: NIKE’s operational turnaround and brand reset are progressing more slowly than hoped, keeping pressure on the shares. Analyst Downgrade Puts Nike Turnaround Pace And Profit Goals In Focus

Analyst Ratings Changes

Several brokerages have recently commented on NKE. HSBC cut shares of NIKE from a "buy" rating to a "hold" rating and lowered their target price for the stock from $90.00 to $48.00 in a report on Monday, April 13th. DZ Bank reaffirmed a "buy" rating on shares of NIKE in a report on Tuesday, April 21st. BTIG Research lowered their target price on shares of NIKE from $90.00 to $75.00 and set a "buy" rating on the stock in a report on Wednesday, April 1st. Truist Financial lowered their target price on shares of NIKE from $69.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, April 1st. Finally, Sanford C. Bernstein reaffirmed a "buy" rating on shares of NIKE in a report on Monday, May 11th. Fifteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $60.89.

NIKE Stock Up 4.4%

Shares of NKE opened at $45.91 on Friday. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The firm's 50 day moving average is $44.26 and its 200-day moving average is $55.52. The stock has a market capitalization of $67.99 billion, a PE ratio of 30.41, a P/E/G ratio of 1.90 and a beta of 1.12. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

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

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Monday, June 1st. NIKE's dividend payout ratio (DPR) is 108.61%.

Insider Activity

In other news, Director John W. Rogers, Jr. acquired 4,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average cost of $43.34 per share, with a total value of $173,360.00. Following the completion of the purchase, the director directly owned 41,022 shares of the company's stock, valued at $1,777,893.48. The trade was a 10.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan acquired 11,781 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The stock was purchased at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the purchase, the director directly owned 55,074 shares of the company's stock, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders acquired 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by insiders.

About NIKE

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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