CIBC Asset Management Inc Boosts Stock Position in NIKE, Inc. $NKE

CIBC Asset Management Inc increased its holdings in NIKE, Inc. (NYSE:NKE) by 59.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,763 shares of the footwear maker’s stock after purchasing an additional 116,464 shares during the quarter. CIBC Asset Management Inc’s holdings in NIKE were worth $19,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Mizuho Markets Cayman LP purchased a new stake in shares of NIKE in the 3rd quarter worth about $34,200,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of NIKE during the 4th quarter valued at about $43,188,000. Strive Asset Management LLC purchased a new position in shares of NIKE during the third quarter valued at about $1,743,000. Nicholas Company Inc. raised its stake in NIKE by 33.3% in the fourth 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 in the last quarter. Finally, Park National Corp OH raised its stake in NIKE by 81.5% in the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock worth $27,463,000 after buying an additional 193,514 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NKE. BTIG Research cut their price objective on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. JPMorgan Chase & Co. reissued a “neutral” rating on shares of NIKE in a research report on Monday, April 13th. Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a research note on Monday, May 11th. Jefferies Financial Group dropped their price target on NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, Berenberg Bank reaffirmed a “neutral” rating on shares of NIKE in a research note on Wednesday, May 6th. Sixteen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Hold” and an average target price of $62.04.

NIKE Price Performance

NKE stock opened at $43.66 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The firm has a 50 day moving average price of $45.05 and a 200-day moving average price of $56.17. NIKE, Inc. has a 52-week low of $41.35 and a 52-week high of $80.17. The firm has a market capitalization of $64.65 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 1.87 and a beta of 1.12.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Equities research analysts forecast that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders 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 dividend yield of 3.8%. NIKE’s dividend payout ratio (DPR) is presently 108.61%.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Negative Sentiment: NIKE faces renewed pressure from inventory cleanup, sportswear weakness, and China headwinds that may keep sales and margins under strain. NKE Stock Slips Below 50-Day SMA: A Warning Sign for Investors?
• Negative Sentiment: Zacks Research downgraded NIKE from hold to strong sell, which can weigh on investor sentiment. Zacks downgrade report
• Negative Sentiment: A DCF analysis from GuruFocus suggested NIKE may be trading well above its estimated intrinsic value, reinforcing valuation concerns. NKE DCF Analysis: Intrinsic Value $19 vs Price $44
• Neutral Sentiment: Several articles noted that NIKE is attracting investor attention, but did not add new fundamental catalysts beyond general market interest. NIKE, Inc. (NKE) is Attracting Investor Attention: Here is What You Should Know
• Neutral Sentiment: NIKE’s AI push and internal automation efforts highlight a longer-term efficiency strategy, but investors are still questioning near-term margin benefits and dividend strength. Nike’s AI Push Raises Questions On Margins And Dividend Strength
• Neutral Sentiment: NIKE’s upcoming connection to Lululemon’s CEO transition is notable, as incoming Lululemon CEO Heidi O’Neill will join after her NIKE non-compete expires, but the article is more relevant to LULU than NKE. Lululemon’s next CEO knows how to get it ‘back on track’: Analyst

Insider Buying and Selling

In other news, Director Robert Holmes Swan purchased 11,781 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were bought at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the purchase, the director directly owned 55,074 shares in the company, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Elliott Hill acquired 23,660 shares of the business’s stock in a transaction that occurred on Monday, April 13th. The shares were purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the transaction, the chief executive officer directly owned 265,247 shares in the company, valued at $11,211,990.69. The trade was a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 64,441 shares of company stock worth $2,734,204 in the last 90 days. 0.80% of the stock is owned by company insiders.

About NIKE

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).