NIKE, Inc. $NKE Shares Sold by Canoe Financial LP

Canoe Financial LP reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 15.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,920 shares of the footwear maker’s stock after selling 16,700 shares during the period. Canoe Financial LP’s holdings in NIKE were worth $4,855,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Financial Management LLC purchased a new stake in NIKE during the 4th quarter worth about $26,000. Sankala Group LLC purchased a new position in shares of NIKE in the 4th quarter valued at about $26,000. J.Safra Asset Management Corp purchased a new position in shares of NIKE in the 4th quarter valued at about $29,000. Kemnay Advisory Services Inc. acquired a new stake in shares of NIKE during the 4th quarter worth about $30,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of NIKE during the 3rd quarter worth about $35,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Oppenheimer lowered its price target to $60 but kept an outperform rating, signaling some analysts still see meaningful upside from current levels. Oppenheimer target update
• Positive Sentiment: Investors are also watching for any improvement from NIKE’s “Win Now” turnaround strategy and upcoming guidance, which could help support sentiment if management shows clearer progress. Nike fiscal Q4 preview
• Neutral Sentiment: NIKE is expected to report results after Tuesday’s close, and traders are bracing for a potentially large post-earnings move as attention centers on revenue trends, margins, and forward guidance. Investopedia earnings move preview
• Neutral Sentiment: Wall Street is closely focused on the new CFO transition, with investors waiting to see whether leadership changes help or hurt execution in the near term. Nike shares in focus as company names new CFO
• Negative Sentiment: KeyBanc turned more cautious, saying NIKE’s recovery is taking longer than expected amid slower turnaround progress and stronger competition from rivals. KeyBanc downgrade
• Negative Sentiment: Other coverage points to a “soft” quarter, with pressure from China weakness, tariffs, promotions, and operational uncertainty weighing on expectations ahead of earnings. Nike likely to report soft quarterly results
• Negative Sentiment: Stifel and Deutsche Bank also cut price targets, reinforcing a more cautious Street view before the report. Stifel target cut Deutsche Bank target cut

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 11,781 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average cost of $42.44 per share, with a total value of $499,985.64. Following the acquisition, the director directly owned 55,074 shares of the company’s stock, valued at $2,337,340.56. The trade was a 27.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Elliott Hill purchased 23,660 shares of NIKE stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the transaction, the chief executive officer owned 265,247 shares in the company, valued at $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by company insiders.

NIKE Stock Up 0.0%

Shares of NYSE NKE opened at $40.76 on Monday. The stock has a market cap of $60.36 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. 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 business has a 50-day moving average price of $44.19 and a 200 day moving average price of $53.89.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Equities research analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. Robert W. Baird lowered their price target on NIKE from $85.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, April 1st. Weiss Ratings cut shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. DA Davidson downgraded shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $72.00 to $46.00 in a research report on Thursday, April 2nd. Piper Sandler restated a “neutral” rating and set a $50.00 price objective (down from $60.00) on shares of NIKE in a research report on Friday, April 10th. Finally, Zacks Research cut shares of NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, NIKE currently has an average rating of “Hold” and an average price target of $59.01.

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).