NIKE, Inc. $NKE Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 54.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,384 shares of the footwear maker’s stock after selling 113,841 shares during the period. Madison Asset Management LLC’s holdings in NIKE were worth $4,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westerkirk Capital Inc. boosted its holdings in NIKE by 52.4% in the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock valued at $8,360,000 after purchasing an additional 45,100 shares in the last quarter. OMERS ADMINISTRATION Corp raised its holdings in NIKE by 77.9% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock worth $160,943,000 after purchasing an additional 1,106,499 shares in the last quarter. PFA Pension Forsikringsaktieselskab acquired a new stake in NIKE during the fourth quarter worth approximately $43,188,000. Nicholas Company Inc. lifted its position in shares of NIKE by 33.3% during the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock worth $7,878,000 after buying an additional 30,890 shares during the last quarter. Finally, Stoneridge Investment Partners LLC lifted its position in shares of NIKE by 1,253.6% during the 4th quarter. Stoneridge Investment Partners LLC now owns 78,846 shares of the footwear maker’s stock worth $5,023,000 after buying an additional 73,021 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NKE. Truist Financial dropped their target price on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. HSBC cut shares of NIKE from a “buy” rating to a “hold” rating and reduced their price target for the company from $90.00 to $48.00 in a research report on Monday, April 13th. Jefferies Financial Group decreased their price objective on shares of NIKE from $90.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. cut their target price on NIKE from $52.00 to $47.00 and set a “neutral” rating on the stock in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $53.86.

Insider Buying and Selling

In other news, EVP Philip Mccartney sold 17,398 shares of the company’s 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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. Corporate insiders own 1.10% of the company’s stock.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is restructuring its China e-commerce strategy by steering shoppers to official channels and cutting off thousands of third-party online distributors, a move that could improve brand control, reduce marketplace clutter, and support margins. Nike to cut off thousands of online distributors in China, restructure digital footprint
• Positive Sentiment: The company’s focus on new performance products, advanced technologies, and its “Sport Offense” strategy could help reignite demand over time if the innovation pipeline converts into stronger sales. NIKE’s Innovation Pipeline: Can New Products Spark Demand?
• Neutral Sentiment: Analyst commentary and market-activity coverage suggest investors are closely monitoring NIKE’s turnaround story, but these items do not appear to add a major new catalyst on their own. SA analyst upgrades/downgrades: NKE, DDOG, BIDU, INTC
• Neutral Sentiment: Commentary on NIKE’s broader brand reset, retail growth strategy, and stock activity reflects ongoing debate about the turnaround, but these headlines are more diagnostic than immediately actionable. Nike (NYSE:NKE) Faces A Crucial Brand Reset
• Neutral Sentiment: Coverage noting NIKE’s miss on World Cup final exposure and LeBron James’ criticism underscores brand relevance concerns, but the effect is longer-term and harder to quantify immediately. Nike Misses World Cup Final as Adidas Gains Merchandise Opportunity
• Negative Sentiment: Ongoing concerns about weak consumer demand, heavy discounting in key Sportswear and Jordan lines, and questions about cultural relevance continue to weigh on sentiment for NIKE. The Bull Case For NIKE (NKE) Could Change Following Missed World Cup Moment And Brand Relevance Questions
• Negative Sentiment: LeBron James’ comments that NIKE needs to reconnect with local communities and consumers reinforce the view that the brand still has a turnaround problem to solve. LeBron James exposes Nike’s hidden turnaround problem

NIKE Stock Performance

Shares of NKE opened at $42.99 on Wednesday. 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 cap of $63.66 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12. The company’s 50 day simple moving average is $43.70 and its 200-day simple moving average is $51.52. NIKE, Inc. has a 12-month low of $40.00 and a 12-month high of $80.17.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. NIKE’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 EPS. As a group, equities analysts predict that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were paid a $0.41 dividend. The ex-dividend date was 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 78.47%.

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).