Mediolanum International Funds Ltd lowered its stake in NIKE, Inc. (NYSE:NKE – Free Report) by 90.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,597 shares of the footwear maker’s stock after selling 125,453 shares during the period. Mediolanum International Funds Ltd’s holdings in NIKE were worth $645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Westerkirk Capital Inc. raised its stake in NIKE by 52.4% in the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock valued at $8,360,000 after buying an additional 45,100 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its position in shares of NIKE by 77.9% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock worth $160,943,000 after acquiring an additional 1,106,499 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new position in shares of NIKE during the 4th quarter worth about $43,188,000. Nicholas Company Inc. increased its holdings in shares of NIKE by 33.3% in the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock valued at $7,878,000 after acquiring an additional 30,890 shares during the last quarter. Finally, Stoneridge Investment Partners LLC increased its holdings in shares of NIKE by 1,253.6% in the 4th quarter. Stoneridge Investment Partners LLC now owns 78,846 shares of the footwear maker’s stock valued at $5,023,000 after acquiring an additional 73,021 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.
NIKE Stock Down 1.1%
Shares of NYSE NKE opened at $42.99 on Wednesday. The stock has a market cap of $63.66 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The business has a 50-day moving average price of $43.70 and a 200 day moving average price of $51.52.
NIKE Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. NIKE’s dividend payout ratio (DPR) is 78.47%.
Analyst Ratings Changes
Several research firms recently weighed in on NKE. Truist Financial decreased their target price on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Piper Sandler dropped their price target on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Wall Street Zen raised shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. China Renaissance reduced their price objective on shares of NIKE from $50.30 to $47.30 and set a “hold” rating for the company in a research report on Thursday, July 2nd. Finally, Jefferies Financial Group reduced their price objective on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $53.86.
Read Our Latest Analysis on NKE
Insider Activity at NIKE
In other news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction 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 transaction, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. 1.10% of the stock is owned by insiders.
Key Stories Impacting NIKE
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: NIKE is restructuring its China e-commerce strategy by steering shoppers to official channels and cutting off thousands of third-party online distributors, a move that could improve brand control, reduce marketplace clutter, and support margins. Nike to cut off thousands of online distributors in China, restructure digital footprint
- Positive Sentiment: The company’s focus on new performance products, advanced technologies, and its “Sport Offense” strategy could help reignite demand over time if the innovation pipeline converts into stronger sales. NIKE’s Innovation Pipeline: Can New Products Spark Demand?
- Neutral Sentiment: Analyst commentary and market-activity coverage suggest investors are closely monitoring NIKE’s turnaround story, but these items do not appear to add a major new catalyst on their own. SA analyst upgrades/downgrades: NKE, DDOG, BIDU, INTC
- Neutral Sentiment: Commentary on NIKE’s broader brand reset, retail growth strategy, and stock activity reflects ongoing debate about the turnaround, but these headlines are more diagnostic than immediately actionable. Nike (NYSE:NKE) Faces A Crucial Brand Reset
- Neutral Sentiment: Coverage noting NIKE’s miss on World Cup final exposure and LeBron James’ criticism underscores brand relevance concerns, but the effect is longer-term and harder to quantify immediately. Nike Misses World Cup Final as Adidas Gains Merchandise Opportunity
- Negative Sentiment: Ongoing concerns about weak consumer demand, heavy discounting in key Sportswear and Jordan lines, and questions about cultural relevance continue to weigh on sentiment for NIKE. The Bull Case For NIKE (NKE) Could Change Following Missed World Cup Moment And Brand Relevance Questions
- Negative Sentiment: LeBron James’ comments that NIKE needs to reconnect with local communities and consumers reinforce the view that the brand still has a turnaround problem to solve. LeBron James exposes Nike’s hidden turnaround problem
About NIKE
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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