Wellington Management Group LLP trimmed its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 42.1% during the second quarter, Holdings Channel reports. The firm owned 22,208,933 shares of the footwear maker’s stock after selling 16,143,310 shares during the quarter. Wellington Management Group LLP’s holdings in NIKE were worth $911,677,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of NKE. Rakuten Investment Management Inc. grew its stake in shares of NIKE by 11.0% in the second quarter. Rakuten Investment Management Inc. now owns 197,355 shares of the footwear maker’s stock valued at $8,186,000 after buying an additional 19,527 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of NIKE by 82.3% in the 2nd quarter. Empowered Funds LLC now owns 191,312 shares of the footwear maker’s stock valued at $7,853,000 after buying an additional 86,352 shares during the period. Formula Growth Ltd. acquired a new position in NIKE during the 2nd quarter worth about $616,000. Jefferies Financial Group Inc. lifted its stake in NIKE by 428.1% during the 2nd quarter. Jefferies Financial Group Inc. now owns 160,753 shares of the footwear maker’s stock worth $6,599,000 after acquiring an additional 130,315 shares in the last quarter. Finally, MASTERINVEST Kapitalanlage GmbH boosted its holdings in NIKE by 32.7% during the 2nd quarter. MASTERINVEST Kapitalanlage GmbH now owns 55,601 shares of the footwear maker’s stock valued at $2,282,000 after acquiring an additional 13,701 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.
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.
Analyst Upgrades and Downgrades
Check Out Our Latest Research Report on NKE
Insider Activity
In other NIKE news, COO Venkatesh Alagirisamy sold 890 shares of the firm’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $37,024.00. Following the sale, the chief operating officer directly owned 74,820 shares in the company, valued at $3,112,512. This trade represents a 1.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the sale, the insider directly owned 57,436 shares of the company’s stock, valued at $2,415,183.80. This trade represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 26,142 shares of company stock worth $1,169,380. 1.10% of the stock is currently owned by company insiders.
NIKE Stock Performance
Shares of NKE opened at $39.57 on Friday. NIKE, Inc. has a 1 year low of $38.17 and a 1 year high of $79.13. The stock has a market capitalization of $58.70 billion, a PE ratio of 18.93, a PEG ratio of 1.76 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The stock has a 50-day simple moving average of $41.91 and a 200-day simple moving average of $47.11.
NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. During the same quarter in the previous year, the firm earned $0.14 earnings per share. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.
NIKE Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s payout ratio is 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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