Rakuten Investment Management Inc. raised its holdings in NIKE, Inc. (NYSE:NKE – Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 197,355 shares of the footwear maker’s stock after acquiring an additional 19,527 shares during the quarter. Rakuten Investment Management Inc.’s holdings in NIKE were worth $8,186,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the business. State Street Corp grew its stake in shares of NIKE by 2.2% in the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock worth $3,802,807,000 after purchasing an additional 1,275,494 shares during the last quarter. Capital World Investors increased its holdings in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the period. J. Stern & Co. LLP grew its position in shares of NIKE by 49,010.4% in the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after buying an additional 47,956,692 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of NIKE by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after buying an additional 233,925 shares during the period. Finally, Harris Associates L P increased its stake in shares of NIKE by 72.3% in the fourth quarter. Harris Associates L P now owns 14,956,882 shares of the footwear maker’s stock valued at $952,903,000 after buying an additional 6,277,987 shares during the period. Institutional investors own 64.25% of the company’s stock.
Analysts Set New Price Targets
NKE has been the subject of a number of analyst reports. Weiss Ratings upgraded NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 17th. BNP Paribas Exane reaffirmed an “underperform” rating on shares of NIKE in a research note on Wednesday, July 22nd. Bank of America decreased their price objective on shares of NIKE from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of NIKE from $43.00 to $45.00 and gave the company a “hold” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.94.
More NIKE News
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
- Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
- Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
- Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
- Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
- Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.
Insider Buying and Selling at NIKE
In other news, insider Amy Montagne sold 4,867 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the completion of the sale, the insider directly owned 57,436 shares of the company’s stock, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 26,142 shares of company stock worth $1,169,380 in the last quarter. 1.10% of the stock is owned by insiders.
NIKE Stock Performance
NYSE NKE opened at $39.57 on Friday. The company has a market cap of $58.70 billion, a P/E ratio of 18.93, a PEG ratio of 1.76 and a beta of 1.11. The company has a fifty day simple moving average of $41.91 and a 200 day simple moving average of $47.11. 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, Inc. has a 12-month low of $38.17 and a 12-month high of $79.13.
NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. Sell-side analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.
NIKE Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.1%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.
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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