Trust Co of Kansas increased its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 26.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 92,941 shares of the footwear maker’s stock after buying an additional 19,729 shares during the period. NIKE comprises 2.7% of Trust Co of Kansas’ investment portfolio, making the stock its 14th biggest holding. Trust Co of Kansas’ holdings in NIKE were worth $5,921,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in NKE. Main Street Financial Solutions LLC raised its position in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares during the period. Diligent Investors LLC raised its holdings in shares of NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after purchasing an additional 153 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of NIKE by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after purchasing an additional 163 shares during the period. Lakeshore Capital Group Inc. lifted its stake in NIKE by 2.9% in the fourth quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after purchasing an additional 165 shares during the last quarter. Finally, TPG Financial Advisors LLC grew its holdings in NIKE by 4.8% during the third quarter. TPG Financial Advisors LLC now owns 3,666 shares of the footwear maker’s stock valued at $256,000 after purchasing an additional 168 shares during the period. Institutional investors own 64.25% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have issued reports on NKE shares. JPMorgan Chase & Co. reissued a “neutral” rating on shares of NIKE in a research report on Monday, April 13th. DA Davidson downgraded NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $72.00 to $46.00 in a research note on Thursday, April 2nd. Wells Fargo & Company set a $45.00 price objective on NIKE and gave the stock an “equal weight” rating in a report on Friday, May 8th. Williams Trading lowered their price objective on NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, Evercore dropped their price objective on shares of NIKE from $69.00 to $57.00 and set an “outperform” rating on the stock in a report on Wednesday, April 1st. Sixteen equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, NIKE currently has an average rating of “Hold” and an average target price of $62.04.
Insider Activity
In other news, Director Robert Holmes Swan acquired 11,781 shares of NIKE stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average price of $42.44 per share, with a total value of $499,985.64. Following the completion of the purchase, the director owned 55,074 shares in the company, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Elliott Hill bought 23,660 shares of the firm’s stock in a transaction that occurred on Monday, April 13th. The shares were purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the acquisition, the chief executive officer directly owned 265,247 shares in the company, valued at $11,211,990.69. This trade represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 64,441 shares of company stock valued at $2,734,204 over the last ninety days. 0.80% of the stock is owned by insiders.
Key NIKE News
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: NIKE is leaning into its football business ahead of the World Cup, and analysts said the company’s investor event reinforced CEO Elliott Hill’s plan to rebuild the brand sport by sport and region by region. That could support the long-term turnaround narrative. Nike bets big on Beautiful Game ahead of World Cup
- Positive Sentiment: Investor interest in NIKE remains elevated, with recent coverage highlighting that the stock is still drawing attention from market watchers as they evaluate the company’s outlook and earnings trajectory. NIKE, Inc. (NKE) is Attracting Investor Attention: Here is What You Should Know
- Positive Sentiment: NIKE continues to push a high-profile marketing campaign, “Rip The Script,” featuring major athletes and celebrities, which may help brand visibility and demand heading into a key sports calendar. NKE Stock Eyes Red Week Ahead Of FIFA World Cup: Nike’s Star-Studded Campaign Can’t Stop It From Falling
- Neutral Sentiment: Several articles focused on shifting investor narratives and watched-the-stock commentary, but no new price target or major fundamental update was announced, limiting the immediate catalyst. How The Narrative Around Nike (NKE) Is Evolving Without A New Price Target
- Neutral Sentiment: Commentary on a possible legal inquiry about insider duties did not provide clear evidence of wrongdoing, so it is more of a headline risk than a confirmed stock-moving event. Did NIKE, Inc. Insiders Breach their Fiduciary Duties to Shareholders?
- Negative Sentiment: Some coverage suggests NIKE still faces questions about regaining momentum in a changing consumer market, while the stock has also been pressured by broader concerns that the turnaround may take time. Can Nike Regain Momentum In A Changing Consumer Market?
- Negative Sentiment: Market chatter also highlights a “red week” narrative ahead of the FIFA World Cup, implying investors remain skeptical that NIKE’s ad campaign alone will quickly reverse the stock’s weakness. Curry Defection And World Cup Push Test Nike Turnaround Expectations
NIKE Price Performance
Shares of NYSE NKE opened at $43.05 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17. The stock has a market cap of $63.75 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.86 and a beta of 1.12. The stock has a fifty day moving average of $44.85 and a 200-day moving average of $56.03.
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the prior year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. Equities research analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current year.
NIKE Announces Dividend
The company also recently declared 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 3.8%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.
NIKE 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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