73,930 NIKE, Inc. $NKE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in NIKE, Inc. (NYSE:NKE) by 2.7% in the third quarter, Holdings Channel reports. The fund owned 2,707,830 shares of the footwear maker’s stock after selling 73,930 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in NIKE were worth $95,857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Flossbach Von Storch SE acquired a new stake in shares of NIKE in the 2nd quarter valued at approximately $488,714,000. State Street Corp increased its position in NIKE by 6.8% during the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after purchasing an additional 4,052,428 shares in the last quarter. Confluence Investment Management LLC increased its position in NIKE by 873.8% during the 3rd quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker’s stock worth $96,310,000 after purchasing an additional 2,441,233 shares in the last quarter. Equity Investment Corp bought a new position in NIKE in the 2nd quarter valued at approximately $99,531,000. Finally, Amundi lifted its stake in NIKE by 59.4% in the 2nd quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock valued at $265,199,000 after purchasing an additional 2,406,609 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NKE. UBS Group restated a “neutral” rating on shares of NIKE in a research report on Thursday, October 22nd. KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research note on Friday, October 2nd. Jefferies Financial Group set a $60.00 price target on shares of NIKE in a report on Friday, October 2nd. Robert W. Baird dropped their price target on NIKE from $44.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $33.00 price objective on shares of NIKE in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have issued a Hold rating and eleven have assigned a Sell rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Reduce” and an average target price of $40.93.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Nike rose while the broader market declined, suggesting some relative strength and possible investor interest in the shares after their prolonged selloff. Nike Ascends While Market Falls
• Positive Sentiment: A valuation comparison with Carter’s keeps Nike on value investors’ radar. Nike’s depressed share price and brand strength could appeal to contrarian investors, although the comparison does not eliminate concerns about near-term earnings growth. CRI or NKE: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: Nike joined roughly 50 companies opposing OKX-ICE’s proposed tokenized trading of shares. The action protects the company’s control over how its stock is represented, but it has little direct effect on Nike’s operations or fundamentals. Nike Objects to Tokenized Trading of Its Shares
• Negative Sentiment: Analysts and market commentary continue to flag weakened brand dominance, supply-chain missteps and execution problems. These issues could pressure pricing power, market share and margins. How Supply Chain Democratization and Missteps Weakened Nike’s Dominance
• Negative Sentiment: Nike’s shares remain sharply below their level of five years ago, while management expects fiscal 2027 revenue to decline by a high-single-digit percentage. The outlook reinforces concerns that the turnaround will take time. 1 Stat That Makes Nike Stock Hard to Ignore

NIKE Stock Up 1.1%

NYSE:NKE opened at $39.11 on Tuesday. The firm’s 50 day simple moving average is $36.91 and its 200 day simple moving average is $46.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39. NIKE, Inc. has a one year low of $31.97 and a one year high of $69.14. The company has a market cap of $58.09 billion, a PE ratio of 23.81, a P/E/G ratio of 4.34 and a beta of 1.09.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The firm had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period in the previous year, the firm posted $0.49 EPS. The company’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. On average, research analysts anticipate that NIKE, Inc. will post 1.22 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Tuesday, September 1st. NIKE’s payout ratio is 78.85%.

Insider Buying and Selling at NIKE

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the sale, the chief operating officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $96,192.81. Following the transaction, the executive vice president directly owned 78,121 shares of the company’s stock, valued at approximately $2,936,568.39. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,974 shares of company stock worth $600,126 in the last three months. 1.10% of the stock is currently owned by company insiders.

NIKE 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.