NIKE, Inc. $NKE Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 23.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 595,016 shares of the footwear maker’s stock after acquiring an additional 111,625 shares during the quarter. Handelsbanken Fonder AB’s holdings in NIKE were worth $24,425,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of NKE. Main Street Financial Solutions LLC grew its holdings in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after purchasing an additional 139 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of NIKE by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock worth $253,000 after buying an additional 163 shares during the period. ANB Bank raised its stake in shares of NIKE by 0.7% during the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after buying an additional 165 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of NIKE by 4.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 3,970 shares of the footwear maker’s stock valued at $253,000 after buying an additional 169 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. lifted its position in shares of NIKE by 7.6% during the 4th quarter. Caldwell Sutter Capital Inc. now owns 2,402 shares of the footwear maker’s stock valued at $153,000 after buying an additional 170 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Down 1.8%

Shares of NKE opened at $40.57 on Thursday. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The stock has a market cap of $60.19 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.83 and a beta of 1.11. The firm’s fifty day moving average is $42.99 and its two-hundred day moving average is $48.95. 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 (NYSE:NKE) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. Research analysts forecast that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s dividend payout ratio is presently 78.47%.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s quarterly dividend could receive another modest increase. The company has delivered 24 consecutive years of dividend growth, and a higher payout would support the stock’s income appeal, although the current payout ratio is already relatively high. NIKE Dividend: Why a Small Increase Could Be on the Way
• Positive Sentiment: The company’s latest earnings report exceeded consensus expectations for both earnings per share and revenue. However, the revenue decline indicates that the beat was not accompanied by renewed top-line growth.
• Neutral Sentiment: NIKE’s turnaround remains the central investor focus. Efforts to improve product innovation, inventory management, international logistics and brand momentum could eventually restore growth and reduce markdowns, but the timing and effectiveness of the recovery remain uncertain. Why Is Nike the Consumer Name Markets Track Through Its Turnaround?
• Negative Sentiment: Analyst concerns intensified after Seeking Alpha downgraded NIKE, arguing that a return to full-price selling and normalized profitability will take time. A separate Zacks Research revision lowered its FY2029 EPS estimate to $2.56 from $2.63 and maintained a “Strong Sell” rating. Nike: Full Price Recovery Will Take Time
• Negative Sentiment: Greater China remains a major weakness. Local competitors are taking market share, while rival brands are reporting stronger regional growth, raising concerns about NIKE’s revenue trajectory and brand strength in an important market. China’s Athleisure Boom Is Not Lifting Every Brand Equally
• Negative Sentiment: NIKE underperformed during a broader footwear-sector selloff as investors questioned consumer demand, competition and the pace of the recovery. Insider Amy Montagne also sold 4,867 shares, reducing her holdings by 7.81%; she nevertheless retained a substantial position. Amy Montagne Sells NIKE Shares

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stifel Nicolaus set a $45.00 price target on shares of NIKE and gave the stock a “hold” rating in a report on Wednesday, July 1st. Zacks Research lowered shares of NIKE from a “hold” rating to a “strong sell” rating in a research report on Monday, June 1st. The Goldman Sachs Group cut their target price on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Oppenheimer reduced their price target on shares of NIKE from $120.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. Finally, China Renaissance decreased their price target on shares of NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a research note on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eighteen have given a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.53.

Insider Buying and Selling at NIKE

In other news, CFO Matthew Friend sold 2,463 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $102,460.80. Following the completion of the sale, the chief financial officer directly owned 82,165 shares in the company, valued at $3,418,064. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This represents a 24.67% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 26,142 shares of company stock worth $1,169,380 in the last quarter. Insiders own 1.10% of the company’s stock.

NIKE 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).