Washington Trust Advisors Inc. Sells 58,514 Shares of NIKE, Inc. $NKE

Washington Trust Advisors Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 49.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 59,965 shares of the footwear maker’s stock after selling 58,514 shares during the period. Washington Trust Advisors Inc.’s holdings in NIKE were worth $2,462,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. State Street Corp grew its holdings in NIKE by 2.2% during the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after purchasing an additional 1,275,494 shares during the period. Capital World Investors increased its position in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock worth $3,126,246,000 after buying an additional 6,830,938 shares during the last quarter. J. Stern & Co. LLP raised its stake in shares of NIKE by 49,010.4% in the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after buying an additional 47,956,692 shares during the period. Geode Capital Management LLC raised its stake in shares of NIKE by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after buying an additional 233,925 shares during the period. Finally, Harris Associates L P lifted its position in shares of NIKE by 72.3% during the 4th quarter. Harris Associates L P now owns 14,956,882 shares of the footwear maker’s stock valued at $952,903,000 after buying an additional 6,277,987 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

NKE has been the subject of several research reports. Citigroup reiterated a “neutral” rating on shares of NIKE in a research note on Wednesday, July 22nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a report on Tuesday, August 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of NIKE from $43.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, July 17th. Robert W. Baird reiterated an “outperform” rating and issued a $70.00 target price on shares of NIKE in a research note on Wednesday, July 1st. Finally, UBS Group set a $48.00 price target on shares of NIKE and gave the company a “neutral” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $52.94.

Insider Activity

In other NIKE news, insider Amy Montagne sold 4,867 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.05, for a total value of $204,657.35. Following the sale, the insider directly owned 57,436 shares in the company, valued at $2,415,183.80. This represents a 7.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Matthew Friend sold 2,463 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at approximately $3,418,064. The trade was a 2.91% 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. Insiders have sold a total of 26,142 shares of company stock valued at $1,169,380 over the last ninety days. 1.10% of the stock is owned by insiders.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Analysts are bullish on Nike among selected consumer-cyclical companies, supporting the view that the stock’s depressed valuation could offer upside if the company executes its turnaround. Analysts Are Bullish on These Consumer Cyclical Stocks: Nike (NKE), Ferrari (RACE)
• Positive Sentiment: Nike is expanding its Strength Pro Equipment business with customizable Power Rack systems installed at prominent athletic facilities, including U.S. Soccer, USC and professional women’s sports venues. The initiative could deepen institutional relationships and create a broader growth opportunity beyond footwear and apparel. Nike’s Custom Power Racks Might Change The Case For Investing In NIKE (NKE)
• Neutral Sentiment: Some investment coverage describes Nike as potentially undervalued after its steep decline, while emphasizing that the opportunity depends on stabilizing margins and successfully improving the business. Recent earnings also showed an EPS beat and slightly stronger-than-expected revenue, although sales declined year over year. Down almost 80%, is Nike stock undervalued or a value trap?
• Neutral Sentiment: Broader market conditions could affect NKE: investors are focused on the August employment report because it may influence the Federal Reserve’s interest-rate decision later this month. Apparel and luxury-goods stock screens also continue to identify Nike as a company worth watching. 5 Things to Know Before the Stock Market Opens on Friday
• Negative Sentiment: Bearish commentary says Nike faces a difficult turnaround and that its current valuation may provide limited margin of safety, raising the risk that the stock is a value trap if profitability and demand do not recover. Nike: A Difficult Turnaround At A Price That Offers Little Margin of Safety
• Negative Sentiment: Nike is reportedly closing 11 U.S. stores, signaling continued efforts to rationalize its retail footprint and potentially reflecting weaker store economics or changing shopping patterns. Nike closes 11 stores across the US

NIKE Stock Performance

NYSE:NKE opened at $38.39 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a 52-week low of $37.95 and a 52-week high of $76.97. The firm has a market cap of $56.95 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.88 and a beta of 1.10. The business’s fifty day moving average is $41.58 and its 200 day moving average is $46.16.

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

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s dividend payout ratio is presently 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).