NIKE, Inc. $NKE Stock: Mesirow Financial Investment Management Inc. Decreases Stake

Mesirow Financial Investment Management Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 74.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,557 shares of the footwear maker’s stock after selling 47,908 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in NIKE were worth $586,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NKE. State Street Corp lifted its holdings in NIKE by 6.8% during the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock valued at $2,636,104,000 after buying an additional 4,052,428 shares in the last quarter. Flossbach Von Storch SE bought a new position in NIKE in the 2nd quarter worth about $488,714,000. Amundi grew its stake in NIKE by 59.4% in the 2nd quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock worth $265,199,000 after acquiring an additional 2,406,609 shares in the last quarter. Van ECK Associates Corp grew its stake in NIKE by 4.8% in the 2nd quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker’s stock worth $256,885,000 after acquiring an additional 286,395 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of NIKE by 7.3% during the first quarter. Swiss National Bank now owns 3,496,700 shares of the footwear maker’s stock worth $184,696,000 after acquiring an additional 237,600 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on NKE shares. Jefferies Financial Group set a $60.00 price target on shares of NIKE in a research note on Friday, October 2nd. Piper Sandler set a $28.00 price objective on NIKE and gave the stock a “neutral” rating in a research note on Friday, October 2nd. Wells Fargo & Company set a $30.00 price objective on NIKE and gave the stock an “equal weight” rating in a report on Friday, October 2nd. Zacks Research lowered NIKE from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 1st. Finally, BMO Capital Markets reiterated an “underperform” rating on shares of NIKE in a report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have given a Hold rating and twelve have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $40.83.

Insider Activity

In other NIKE news, COO Venkatesh Alagirisamy sold 3,671 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the transaction, the chief operating officer directly owned 104,862 shares in the company, valued at approximately $3,941,762.58. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $96,192.81. Following the sale, the executive vice president directly owned 78,121 shares of the company’s stock, valued at approximately $2,936,568.39. The trade was a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is owned by insiders.

NIKE Stock Down 1.5%

Shares of NYSE NKE opened at $37.73 on Friday. NIKE, Inc. has a 12-month low of $31.97 and a 12-month high of $69.14. The stock’s fifty day simple moving average is $36.90 and its two-hundred day simple moving average is $45.10. The stock has a market capitalization of $56.04 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 4.39 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.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.43 by $0.05. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The firm had revenue of $11.21 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the company posted $0.49 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, analysts expect that NIKE, Inc. will post 1.24 EPS for the current fiscal year.

Key Headlines Impacting NIKE

Here are a few of the latest headlines about NKE:

• Positive Sentiment: A bullish long-term view argues that NIKE is intentionally reducing supply of Dunk and Jordan retro styles and cutting discounted online sales in China. Though these moves weigh on revenue now, restoring operating margins to fiscal 2024 levels could support a recovery even without sales growth. Investors may look for evidence in the margin target expected November 17. Article: Nike Stock Is Down 78% From Its Peak. Here’s Why I’d Buy and Hold for a Decade.
• Neutral Sentiment: Analyst views are mixed, and Cantor Fitzgerald has begun coverage of NIKE. The provided reports do not specify Cantor’s rating or price target, leaving the overall analyst signal unclear. Article: Analysts’ Opinions Are Mixed on These Consumer Cyclical Stocks Article: Cantor Fitzgerald Begins Coverage on NIKE
• Negative Sentiment: NIKE’s shares are down nearly 40% year to date amid sluggish demand, weakness in China and pressure on margins. The planned sales pullbacks may help clear inventory and protect pricing, but are also costing revenue in the near term. Recent quarterly revenue was below analyst expectations and declined year over year, reinforcing concerns about the pace of recovery. Article: NIKE’s Shares Slide Nearly 40% YTD: Is a Rebound in Sight?

NIKE Company Profile

NIKE, Inc. designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories. The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.