NIKE, Inc. $NKE Shares Sold by RFG Advisory LLC

RFG Advisory LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 53.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,346 shares of the footwear maker’s stock after selling 23,684 shares during the quarter. RFG Advisory LLC’s holdings in NIKE were worth $1,075,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. J. Stern & Co. LLP raised its holdings in shares of NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares during the last quarter. Norges Bank purchased a new stake in NIKE in the fourth quarter valued at $829,956,000. Harris Associates L P purchased a new stake in NIKE in the second quarter valued at $621,525,000. Capital World Investors grew its position in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock worth $3,126,246,000 after purchasing an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. raised its stake in shares of NIKE by 2,492.4% during the 4th quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock valued at $311,111,000 after buying an additional 4,694,859 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Weiss Ratings cut NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Guggenheim dropped their target price on NIKE from $77.00 to $74.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. HSBC cut NIKE from a “buy” rating to a “hold” rating and reduced their price target for the company from $90.00 to $48.00 in a research report on Monday, April 13th. Oppenheimer lowered their price objective on NIKE to $60.00 and set an “outperform” rating on the stock in a research report on Friday. Finally, Telsey Advisory Group dropped their price objective on shares of NIKE from $65.00 to $55.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 1st. Fourteen equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.01.

Key Stories Impacting NIKE

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

NIKE Trading Up 0.0%

NKE stock opened at $40.76 on Monday. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The firm has a market cap of $60.36 billion, a P/E ratio of 26.99, a PEG ratio of 1.77 and a beta of 1.12. The company’s 50-day simple moving average is $44.19 and its 200-day simple moving average is $53.89.

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

NIKE Announces Dividend

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

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan purchased 11,781 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average price of $42.44 per share, with a total value of $499,985.64. Following the acquisition, the director owned 55,074 shares in the company, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Rogers, Jr. acquired 4,000 shares of NIKE stock in a transaction on Thursday, April 9th. The shares were bought at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the transaction, the director directly owned 41,022 shares of the company’s stock, valued at $1,777,893.48. This trade represents a 10.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by corporate insiders.

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).