First Manhattan CO. LLC. Trims Stake in NIKE, Inc. $NKE

First Manhattan CO. LLC. reduced its position in NIKE, Inc. (NYSE:NKE) by 22.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 376,851 shares of the footwear maker’s stock after selling 108,217 shares during the quarter. First Manhattan CO. LLC.’s holdings in NIKE were worth $24,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NKE. Brighton Jones LLC boosted its holdings in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of NIKE in the 1st quarter worth about $311,000. United Bank boosted its holdings in shares of NIKE by 11.3% in the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after purchasing an additional 1,736 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of NIKE by 0.3% in the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after purchasing an additional 197 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of NIKE by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after purchasing an additional 11,646 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is entering the World Cup with a major global marketing push, including new football boots, federation shirts, and refreshed store displays, which could boost brand visibility and merchandise sales. Nike gets World Cup opportunity it can’t afford to waste
• Positive Sentiment: Reports of record Knicks championship merchandise sales suggest strong demand tied to major sports moments, reinforcing Nike’s ability to monetize high-profile events. Nike (NKE) Sees Record Knicks Merch Sales As The World Cup Begins
• Neutral Sentiment: Several recent articles frame NIKE as a fairly valued stock after a multi-year decline, suggesting investors may see the shares as pricing in a lot of bad news already. Nike (NKE) Stock Price Looks Fair After Multi‑Year Slide And DCF Check
• Neutral Sentiment: Analysts continue to compare Nike with stronger-performing footwear peers like Steven Madden, highlighting that Nike still faces turnaround pressure and relative growth concerns. NIKE vs. Steven Madden: Which Stock Has an Edge in the Footwear Space?
• Negative Sentiment: Nike is still viewed as struggling to regain momentum ahead of its June 30 earnings report, keeping attention on whether management can show a real improvement in the business. Nike Stock Struggling to Bounce Back Before Earnings

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on NKE shares. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of NIKE in a report on Monday, April 13th. BTIG Research cut their price objective on NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. BNP Paribas Exane cut their price objective on NIKE from $35.00 to $23.00 and set an “underperform” rating for the company in a report on Wednesday, April 1st. Zacks Research cut NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. Finally, Citigroup dropped their target price on NIKE from $53.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, June 10th. Fifteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $60.89.

NIKE Trading Down 1.9%

Shares of NKE stock opened at $44.19 on Thursday. The stock has a market capitalization of $65.45 billion, a PE ratio of 29.27, a P/E/G ratio of 1.95 and a beta of 1.12. NIKE, Inc. has a 1-year low of $41.35 and a 1-year high of $80.17. The business has a 50-day moving average of $44.30 and a 200 day moving average of $54.99. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.NIKE’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.7%. NIKE’s dividend payout ratio is currently 108.61%.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. This represents a 24.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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. Also, Director Robert Holmes Swan purchased 11,781 shares of the stock in a transaction on Tuesday, April 7th. The shares were acquired at an average cost of $42.44 per share, with a total value of $499,985.64. Following the transaction, the director directly owned 55,074 shares in the company, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 64,441 shares of company stock worth $2,734,204 over the last three months. 0.80% of the stock is owned by corporate insiders.

NIKE Company 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).