Andra AP fonden Acquires 221,617 Shares of NIKE, Inc. $NKE

Andra AP fonden grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 1,731.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 234,417 shares of the footwear maker’s stock after buying an additional 221,617 shares during the quarter. Andra AP fonden’s holdings in NIKE were worth $12,382,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in NIKE in the 1st quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new position in NIKE in the 4th quarter valued at approximately $26,000. Sankala Group LLC bought a new position in shares of NIKE during the fourth quarter valued at $26,000. Meeder Asset Management Inc. raised its stake in shares of NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after acquiring an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in shares of NIKE during the fourth quarter worth $29,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 1.1%

NIKE stock opened at $42.99 on Wednesday. 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 12-month low of $40.00 and a 12-month high of $80.17. The firm’s fifty day moving average is $43.70 and its 200 day moving average is $51.52. The company has a market capitalization of $63.66 billion, a PE ratio of 20.57, a PEG ratio of 1.92 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its 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 return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same period last year, the business earned $0.14 EPS. NIKE’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 1.74 EPS for the current fiscal year.

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 of this dividend was Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. NIKE’s payout ratio is presently 78.47%.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on NKE shares. UBS Group set a $48.00 target price on NIKE and gave the company a “neutral” rating in a report on Wednesday, July 1st. China Renaissance lowered their price target on shares of NIKE from $50.30 to $47.30 and set a “hold” rating for the company in a report on Thursday, July 2nd. Stifel Nicolaus set a $45.00 price target on shares of NIKE and gave the stock a “hold” rating in a research report on Wednesday, July 1st. Oppenheimer reduced their price objective on shares of NIKE from $120.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, June 26th. Finally, Rothschild & Co Redburn decreased their price objective on shares of NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Hold” and an average target price of $53.86.

Insider Activity at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 currently owned by 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).