NIKE, Inc. $NKE Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its position in NIKE, Inc. (NYSE:NKE) by 10.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,296 shares of the footwear maker’s stock after buying an additional 19,941 shares during the quarter. Rakuten Investment Management Inc.’s holdings in NIKE were worth $7,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NKE. Provenance Wealth Advisors LLC purchased a new stake in NIKE during the third quarter valued at about $575,000. Associated Banc Corp bought a new position in NIKE during the third quarter worth about $308,000. Integrity Advisory Solutions LLC increased its stake in shares of NIKE by 4.3% in the third quarter. Integrity Advisory Solutions LLC now owns 9,180 shares of the footwear maker’s stock worth $325,000 after purchasing an additional 381 shares in the last quarter. IPG Investment Advisors LLC purchased a new position in shares of NIKE in the third quarter worth about $214,000. Finally, Gerber Kawasaki Wealth & Investment Management raised its position in shares of NIKE by 13.5% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 6,640 shares of the footwear maker’s stock valued at $235,000 after purchasing an additional 788 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Oppenheimer set a $52.00 price objective on shares of NIKE and gave the stock an “outperform” rating in a report on Wednesday, September 23rd. Weiss Ratings cut shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, October 6th. Citigroup lowered their target price on shares of NIKE from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Royal Bank Of Canada dropped their target price on NIKE from $45.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Tuesday, September 29th. Finally, Piper Sandler set a $28.00 price target on NIKE and gave the stock a “neutral” rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty have assigned a Hold rating and twelve have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $40.93.

Insider Buying and Selling

In other NIKE news, EVP Philip McCartney sold 2,559 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the sale, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. This represents a 3.17% decrease in their position. The transaction 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, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the sale, the chief operating officer owned 104,862 shares in the company, valued at $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.10% of the company’s stock.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Nike’s product reset is focused on performance innovation and fresh launches, while tighter control of Jordan releases and digital distribution may help protect full-price sales. Will Product Reset Change Nike’s Narrative
• Positive Sentiment: Some coverage sees evidence of progress: gross margin expanded despite falling sales, and Nike recently beat quarterly EPS estimates. Nike vs. Lululemon
• Neutral Sentiment: Nike’s first fully electric container barge in Vietnam supports its sustainability efforts, but the report does not indicate a near-term financial impact. Nike Put Vietnam’s First Fully Electric Container Barge Into Service
• Negative Sentiment: CEO commentary about a “blind spot” comes as Jordan and Dunk sales shrink, raising concern that Nike has misjudged shifts in demand for major franchises. Nike CEO admits blind spot as Jordan and Dunk sales shrink
• Negative Sentiment: Truist downgraded NKE to Sell and set a $29 target, citing risks across the business and valuation. That contrasts with more optimistic views and adds pressure after the stock’s recent rally. NKE Downgraded To Sell At Truist
• Negative Sentiment: The turnaround still faces weak demand: one report says sales in China fell 25% year over year and Nike expects sales to decline this year. Is Now a Good Time to Buy Nike Stock?

NIKE Trading Down 2.2%

Shares of NIKE stock opened at $39.59 on Friday. NIKE, Inc. has a 12-month low of $31.97 and a 12-month high of $69.14. The company has a market cap of $58.80 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 4.73 and a beta of 1.01. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $36.90 and its 200-day moving average price is $45.76.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. The company had revenue of $11.21 billion during 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 revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.49 earnings per share. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, equities analysts expect that NIKE, Inc. will post 1.22 earnings per share for the current fiscal year.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel, equipment and accessories company headquartered near Beaverton, Oregon. The company designs, develops, markets and sells products under the Nike, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s product portfolio includes athletic and casual footwear, performance and lifestyle apparel, sports equipment, accessories and digital fitness-related offerings. The company distributes its products through company-owned retail stores, digital platforms and wholesale partners, while also operating direct-to-consumer and membership programs.

The company traces its origins to 1964, when Phil Knight and Bill Bowerman founded Blue Ribbon Sports.