Wendell David Associates Inc. reduced its holdings in NIKE, Inc. (NYSE:NKE – Free Report) by 17.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 102,338 shares of the footwear maker’s stock after selling 21,004 shares during the quarter. Wendell David Associates Inc.’s holdings in NIKE were worth $5,405,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC acquired a new position in shares of NIKE during the 4th quarter valued at about $26,000. Sankala Group LLC acquired a new stake in shares of NIKE in the fourth quarter worth approximately $26,000. J.Safra Asset Management Corp acquired a new stake in shares of NIKE in the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. purchased a new stake in NIKE in the fourth quarter valued at approximately $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $32,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages recently commented on NKE. Royal Bank Of Canada lowered shares of NIKE from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $70.00 to $50.00 in a research report on Wednesday, June 10th. Needham & Company LLC reissued a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Bank of America restated a “neutral” rating and set a $55.00 price objective (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Guggenheim restated a “buy” rating and set a $60.00 price objective on shares of NIKE in a report on Wednesday. Finally, CICC Research lowered NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $58.07.
Insider Buying and Selling
In related news, CEO Elliott Hill bought 23,660 shares of the firm’s stock in a transaction dated Monday, April 13th. The stock was bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders bought a total of 64,441 shares of company stock valued at $2,734,204 over the last ninety days. Insiders own 0.80% of the company’s stock.
NIKE News Roundup
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: NIKE posted fiscal Q4 earnings of $0.72 per share, far above analyst estimates, and revenue of about $10.97 billion also topped expectations. Nike Fourth-Quarter Revenue Slips as Expected Tariff Refunds Boost Earnings
- Positive Sentiment: Gross profit and operating profit improved sharply, helped by lower costs and a tariff refund, suggesting margins may be stabilizing. Nike earnings crushed Wall Street’s estimates, but there’s a catch
- Neutral Sentiment: International momentum continues to offset weakness in North America, which supports the case for a broader recovery but does not yet fully solve the growth problem. Does NIKE’s International Momentum Outrun North America Weakness?
- Neutral Sentiment: Analysts had already lowered expectations ahead of the report, so the earnings beat may have been partly anticipated by a very low bar. Nike (NKE) Will Report Q4 Earnings Tomorrow. Here’s What Analysts and Options Traders Expect
- Negative Sentiment: Revenue still declined about 1% year over year, and China sales fell 12%, reinforcing worries that demand remains uneven and the turnaround is taking longer than hoped. Nike earnings, revenue top estimates even as China sales drop 12%
- Negative Sentiment: Recent analyst commentary and target cuts, including JPMorgan’s lower price target, reflect ongoing caution around Nike’s ability to complete its turnaround quickly. Nike Stock Slides Despite Q4 Earnings Beat As Turnaround Drags On
NIKE Price Performance
NKE opened at $41.08 on Wednesday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The company has a 50 day moving average of $44.01 and a two-hundred day moving average of $53.56. The company has a market cap of $60.84 billion, a P/E ratio of 27.21, a P/E/G ratio of 1.81 and a beta of 1.12.
NIKE (NYSE:NKE – Get Free Report) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 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 the consensus estimate of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. On average, analysts expect that NIKE, Inc. will post 1.49 earnings per share for the current year.
NIKE Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, June 1st. NIKE’s dividend payout ratio is currently 108.61%.
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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