CenterBook Partners LP Buys 54,571 Shares of NIKE, Inc. $NKE

CenterBook Partners LP grew its stake in shares of NIKE, Inc. (NYSE:NKE) by 86.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 117,630 shares of the footwear maker’s stock after acquiring an additional 54,571 shares during the period. CenterBook Partners LP’s holdings in NIKE were worth $7,494,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Main Street Financial Solutions LLC increased its holdings in shares of NIKE by 4.2% during the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock valued at $244,000 after acquiring an additional 139 shares in the last quarter. Diligent Investors LLC increased its holdings in NIKE by 4.3% in the 4th quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after buying an additional 153 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in NIKE by 4.3% in 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 in the last quarter. Lakeshore Capital Group Inc. increased its holdings in NIKE by 2.9% in the 4th quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after buying an additional 165 shares in the last quarter. Finally, TPG Financial Advisors LLC increased its holdings in NIKE by 4.8% in the 3rd quarter. TPG Financial Advisors LLC now owns 3,666 shares of the footwear maker’s stock worth $256,000 after buying an additional 168 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is leaning into its football business ahead of the World Cup, and analysts said the company’s investor event reinforced CEO Elliott Hill’s plan to rebuild the brand sport by sport and region by region. That could support the long-term turnaround narrative. Nike bets big on Beautiful Game ahead of World Cup
• Positive Sentiment: Investor interest in NIKE remains elevated, with recent coverage highlighting that the stock is still drawing attention from market watchers as they evaluate the company’s outlook and earnings trajectory. NIKE, Inc. (NKE) is Attracting Investor Attention: Here is What You Should Know
• Positive Sentiment: NIKE continues to push a high-profile marketing campaign, “Rip The Script,” featuring major athletes and celebrities, which may help brand visibility and demand heading into a key sports calendar. NKE Stock Eyes Red Week Ahead Of FIFA World Cup: Nike’s Star-Studded Campaign Can’t Stop It From Falling
• Neutral Sentiment: Several articles focused on shifting investor narratives and watched-the-stock commentary, but no new price target or major fundamental update was announced, limiting the immediate catalyst. How The Narrative Around Nike (NKE) Is Evolving Without A New Price Target
• Neutral Sentiment: Commentary on a possible legal inquiry about insider duties did not provide clear evidence of wrongdoing, so it is more of a headline risk than a confirmed stock-moving event. Did NIKE, Inc. Insiders Breach their Fiduciary Duties to Shareholders?
• Negative Sentiment: Some coverage suggests NIKE still faces questions about regaining momentum in a changing consumer market, while the stock has also been pressured by broader concerns that the turnaround may take time. Can Nike Regain Momentum In A Changing Consumer Market?
• Negative Sentiment: Market chatter also highlights a “red week” narrative ahead of the FIFA World Cup, implying investors remain skeptical that NIKE’s ad campaign alone will quickly reverse the stock’s weakness. Curry Defection And World Cup Push Test Nike Turnaround Expectations

Insider Transactions at NIKE

In other news, Director Timothy D. Cook acquired 25,000 shares of NIKE stock in a transaction on Friday, April 10th. The shares were acquired at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the purchase, the director directly owned 130,480 shares in the company, valued at $5,536,266.40. The trade was a 23.70% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Elliott Hill acquired 23,660 shares of NIKE stock in a transaction on Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the purchase, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NKE shares. CICC Research downgraded NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $69.00 to $58.00 in a report on Monday, April 6th. HSBC cut NIKE from a “buy” rating to a “hold” rating and dropped their target price for the stock from $90.00 to $48.00 in a research report on Monday, April 13th. Citigroup dropped their target price on NIKE from $65.00 to $53.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. reissued a “neutral” rating on shares of NIKE in a research report on Monday, April 13th. Finally, Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Sixteen equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, NIKE has an average rating of “Hold” and a consensus target price of $62.04.

NIKE Stock Up 0.2%

NYSE NKE opened at $43.05 on Monday. The stock’s 50 day moving average is $44.85 and its 200 day moving average is $56.03. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12 month low of $41.35 and a 12 month high of $80.17. The stock has a market cap of $63.75 billion, a PE ratio of 28.51, a P/E/G ratio of 1.86 and a beta of 1.12.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the previous year, the firm earned $0.54 EPS. The firm’s revenue was up .1% compared to the same quarter last year. Research analysts predict that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.8%. NIKE’s payout ratio is currently 108.61%.

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).