Robert W. Baird lowered shares of NIKE (NYSE:NKE – Free Report) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks reports.
NKE has been the topic of a number of other reports. Barclays reduced their price target on shares of NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. CICC Research dropped their target price on shares of NIKE from $58.00 to $44.80 and set a “neutral” rating for the company in a report on Thursday, July 2nd. Royal Bank Of Canada restated a “sector perform” rating and set a $45.00 price target on shares of NIKE in a research note on Tuesday, August 25th. Wells Fargo & Company lowered their price target on NIKE from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 1st. Finally, The Goldman Sachs Group decreased their target price on NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-one have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, NIKE has an average rating of “Hold” and an average price target of $49.09.
Check Out Our Latest Analysis on NIKE
NIKE Trading Up 0.7%
NIKE (NYSE:NKE – Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 EPS. Sell-side analysts forecast that NIKE will post 1.74 EPS for the current year.
NIKE Dividend Announcement
The firm also recently announced 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 4.4%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is 78.47%.
Insider Activity at NIKE
In related news, EVP Philip McCartney sold 2,559 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares of the company’s stock, valued at $2,936,568.39. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal 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, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the sale, the chief operating officer directly owned 104,862 shares of the company’s stock, valued at approximately $3,941,762.58. This trade represents a 3.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 14,974 shares of company stock worth $600,126 in the last ninety days. Company insiders own 1.10% of the company’s stock.
Institutional Trading of NIKE
Hedge funds and other institutional investors have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in shares of NIKE in the 1st quarter valued at approximately $25,000. Cornerstone Financial Management LLC bought a new position in NIKE in the fourth quarter valued at approximately $26,000. Sankala Group LLC acquired a new position in NIKE during the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its holdings in shares of NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Finally, Atlas Wealth LLC acquired a new stake in NIKE in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.
Key Headlines Impacting NIKE
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: Some investors see potential for a contrarian recovery. Nike’s approximately 4% dividend yield, recent insider purchases by executives and a wide range of analyst targets suggest possible upside if management’s turnaround gains traction. Nike Stock Opinions on Long-Term Performance Challenges
- Positive Sentiment: NIKE’s upcoming earnings report, expected early next month, could provide a near-term catalyst if results show improving demand, margins or progress in China. Should You Buy Nike Stock Before October 1?
- Neutral Sentiment: Analyst expectations are unusually wide: some published targets imply significant recovery potential, while others envision further downside. This reflects substantial uncertainty about the pace and effectiveness of the turnaround.
- Negative Sentiment: Robert W. Baird downgraded NKE from “strong buy” to “hold,” adding to investor concerns about limited near-term catalysts.
- Negative Sentiment: Citigroup lowered its price target from $45 to $39 and maintained a “neutral” rating, signaling reduced confidence in near-term appreciation.
- Negative Sentiment: Recent coverage highlights weak consumer demand, China-related challenges and persistent execution problems. A bearish scenario discussed by investors places the stock as low as $23. Nike Bear, Base and Bull Cases
- Negative Sentiment: Chief Legal Officer Robert Leinwand sold 3,646 shares worth approximately $137,053. Although the sale represented only about 4% of his prior stake, it adds to the generally cautious insider-trading signal. Nike Chief Legal Officer Share Sale
NIKE Company Profile
NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.
NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.
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