32,792 Shares in NIKE, Inc. $NKE Purchased by B.A. Schrock Wealth Management Inc.

B.A. Schrock Wealth Management Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, HoldingsChannel reports. The fund bought 32,792 shares of the footwear maker’s stock, valued at approximately $1,153,000.

Other institutional investors have also modified their holdings of the company. Mitchell & Pahl Private Wealth LLC increased its holdings in shares of NIKE by 16.6% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 35,677 shares of the footwear maker’s stock valued at $1,263,000 after acquiring an additional 5,075 shares during the period. Sanders Morris Harris LLC purchased a new stake in NIKE in the 3rd quarter valued at $2,869,000. First Citizens Bank & Trust Co. boosted its stake in NIKE by 89.3% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 34,697 shares of the footwear maker’s stock worth $1,228,000 after purchasing an additional 16,368 shares during the period. Roberts Wealth Advisors LLC boosted its stake in NIKE by 2.0% during the 3rd quarter. Roberts Wealth Advisors LLC now owns 71,428 shares of the footwear maker’s stock worth $2,529,000 after purchasing an additional 1,406 shares during the period. Finally, KMG Fiduciary Partners LLC boosted its stake in NIKE by 29.1% during the 3rd quarter. KMG Fiduciary Partners LLC now owns 36,731 shares of the footwear maker’s stock worth $1,300,000 after purchasing an additional 8,290 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Management is taking steps to improve Nike’s customer value proposition, which could support demand and help stabilize the brand over time. What’s Going on With Nike Stock?
• Neutral Sentiment: Despite its steep decline, Nike is being evaluated as a potential value investment. However, a sector comparison from Zacks reportedly favors Carter’s (CRI) as the more attractive value option, limiting the benefit of NKE’s lower share price. CRI vs. NKE: Which Stock Is the Better Value Option?
• Negative Sentiment: Nike’s latest fiscal-quarter revenue fell about 4% year over year, while Greater China revenue plunged 22%. The weaker top line is making it more difficult for the company to expand earnings. Nike Is Down 80% From Its High
• Negative Sentiment: Disappointing forward guidance has added to bearish sentiment, with investors concerned that the recovery may take longer and that conditions could worsen before improving. Why Is Everyone Talking About Nike Stock?
• Negative Sentiment: Bank of America downgraded Nike to Underperform, reversing its earlier view that the negative news was already reflected in the share price. The downgrade followed the disappointing fiscal first-quarter results and reinforces concerns about further downside. BofA Turns Bearish on Nike

Analyst Ratings Changes

Several research analysts have issued reports on NKE shares. Freedom Broker raised shares of NIKE from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $54.00 to $51.00 in a research report on Friday, October 2nd. Argus upgraded shares of NIKE to a “strong-buy” rating in a research note on Wednesday, July 15th. Williams Trading cut shares of NIKE from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Wall Street Zen cut shares of NIKE from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Finally, Benchmark upgraded shares of NIKE to a “hold” rating in a research note on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have issued a Hold rating and ten have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $41.07.

NIKE Price Performance

NIKE stock opened at $35.30 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39. The business has a 50 day simple moving average of $37.66 and a 200-day simple moving average of $41.75. NIKE, Inc. has a 12 month low of $31.97 and a 12 month high of $70.44. The stock has a market capitalization of $52.42 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 3.99 and a beta of 1.09.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. The firm had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. NIKE had a net margin of 6.74% and a return on equity of 15.94%. NIKE’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. Equities analysts predict that NIKE, Inc. will post 1.26 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is 78.85%.

Insider Activity

In other news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $42.05, for a total value of $204,657.35. Following the sale, the insider owned 57,436 shares of the company’s stock, valued at $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $102,460.80. Following the transaction, the chief financial officer owned 82,165 shares in the company, valued at approximately $3,418,064. This trade represents a 2.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,974 shares of company stock worth $600,126 in the last ninety days. 1.10% of the stock is currently owned by insiders.

NIKE Profile

NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.

The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.