EagleClaw Capital Managment LLC Sells 42,465 Shares of NIKE, Inc. $NKE

EagleClaw Capital Managment LLC lessened its position in shares of NIKE, Inc. (NYSE:NKE) by 10.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 347,626 shares of the footwear maker’s stock after selling 42,465 shares during the period. NIKE accounts for 1.7% of EagleClaw Capital Managment LLC’s investment portfolio, making the stock its 19th largest position. EagleClaw Capital Managment LLC’s holdings in NIKE were worth $12,306,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of 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 acquiring an additional 4,052,428 shares during the period. Flossbach Von Storch SE bought a new stake in NIKE in the 2nd quarter valued at about $488,714,000. Amundi raised 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 acquiring an additional 2,406,609 shares during the period. Van ECK Associates Corp raised 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 valued at $256,885,000 after acquiring an additional 286,395 shares during the period. Finally, Swiss National Bank lifted its holdings in NIKE by 7.3% during the first quarter. Swiss National Bank now owns 3,496,700 shares of the footwear maker’s stock valued at $184,696,000 after purchasing an additional 237,600 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.5%

Shares of NYSE NKE opened at $37.94 on Friday. NIKE, Inc. has a 52 week low of $31.97 and a 52 week high of $69.14. The business has a 50-day simple moving average of $36.88 and a two-hundred day simple moving average of $44.97. The company has a quick ratio of 1.39, a current ratio of 2.07 and a debt-to-equity ratio of 0.39. The company has a market cap of $56.35 billion, a P/E ratio of 18.24, a P/E/G ratio of 4.33 and a beta of 1.01.

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

Insider Buying and Selling

In other NIKE news, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through 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 stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $96,192.81. Following the completion of the sale, the executive vice president owned 78,121 shares in the company, valued at $2,936,568.39. This represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NKE shares. Oppenheimer set a $52.00 target price on shares of NIKE and gave the stock an “outperform” rating in a research report on Wednesday, September 23rd. Stifel Nicolaus lowered their price target on shares of NIKE from $40.00 to $36.00 and set a “hold” rating on the stock in a research report on Friday, October 2nd. DZ Bank cut shares of NIKE from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, October 2nd. Evercore dropped their price target on shares of NIKE from $46.00 to $28.00 in a research note on Monday, September 28th. Finally, Rothschild & Co Redburn cut their price objective on shares of NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have given a Hold rating and twelve have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NIKE currently has an average rating of “Reduce” and an average price target of $40.83.

Key Headlines Impacting NIKE

Here are a few of the latest headlines about NKE:

• Neutral Sentiment: Cantor Fitzgerald began coverage of NIKE, but the supplied report details do not state its rating or price target. Read the report Analysts’ views are also described as mixed, without further specifics in the supplied summary. Read the article
• Neutral Sentiment: Trefis published an article focused on NIKE’s “biggest opportunity,” but the supplied information does not describe the opportunity or its potential financial impact. Read the article
• Negative Sentiment: Recent coverage says NIKE shares are down nearly 40% year to date amid sluggish demand, weakness in China and margin pressure. These concerns could limit the scope for a rebound unless operating trends improve. Read the article

About NIKE

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.