Cacti Asset Management LLC Grows Stake in NIKE, Inc. $NKE

Cacti Asset Management LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 348,782 shares of the footwear maker’s stock after purchasing an additional 24,816 shares during the quarter. NIKE accounts for 0.7% of Cacti Asset Management LLC’s investment portfolio, making the stock its 25th biggest holding. Cacti Asset Management LLC’s holdings in NIKE were worth $14,318,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NKE. State Street Corp increased its position in shares of NIKE by 2.2% in the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after buying an additional 1,275,494 shares in the last quarter. Capital World Investors grew its stake in NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the last quarter. J. Stern & Co. LLP increased its holdings in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Geode Capital Management LLC increased its holdings in NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after acquiring an additional 233,925 shares in the last quarter. Finally, Harris Associates L P raised its position in NIKE by 72.3% during the fourth quarter. Harris Associates L P now owns 14,956,882 shares of the footwear maker’s stock worth $952,903,000 after acquiring an additional 6,277,987 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Weiss Ratings raised shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, July 17th. Argus raised NIKE to a “strong-buy” rating in a research note on Wednesday, July 15th. Wells Fargo & Company lowered their target price on NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 1st. Robert W. Baird reissued an “outperform” rating and set a $70.00 price target on shares of NIKE in a research report on Wednesday, July 1st. Finally, Telsey Advisory Group set a $47.00 price target on NIKE and gave the stock a “market perform” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $52.94.

Insider Buying and Selling at NIKE

In other NIKE news, COO Venkatesh Alagirisamy sold 890 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 $37,024.00. Following the transaction, the chief operating officer owned 74,820 shares in the company, valued at $3,112,512. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 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 completion of the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade 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 sold a total of 26,142 shares of company stock valued at $1,169,380 in the last quarter. Company insiders own 1.10% of the company’s stock.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
• Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
• Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
• Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
• Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
• Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.

NIKE Trading Up 2.9%

Shares of NKE opened at $39.57 on Friday. The stock’s fifty day simple moving average is $41.91 and its 200 day simple moving average is $47.11. NIKE, Inc. has a twelve month low of $38.17 and a twelve month high of $79.13. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $58.70 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same period in the previous year, the company posted $0.14 earnings per share. NIKE’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.1%. NIKE’s payout ratio is presently 78.47%.

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).