NIKE, Inc. $NKE Shares Acquired by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC lifted its position in shares of NIKE, Inc. (NYSE:NKE) by 37.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 87,469 shares of the footwear maker’s stock after buying an additional 23,985 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in NIKE were worth $3,096,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp lifted 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 purchasing an additional 4,052,428 shares during the period. Flossbach Von Storch SE acquired a new stake in shares of NIKE during the second quarter worth $488,714,000. Amundi boosted its holdings in shares of NIKE by 59.4% during the second quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock worth $265,199,000 after purchasing an additional 2,406,609 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of NIKE by 4.8% during the second quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker’s stock worth $256,885,000 after purchasing an additional 286,395 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of NIKE by 92.3% in the third quarter. Assenagon Asset Management S.A. now owns 4,789,274 shares of the footwear maker’s stock valued at $169,540,000 after purchasing an additional 2,298,400 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, COO Venkatesh Alagirisamy sold 3,671 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer owned 104,862 shares of the company’s stock, valued at approximately $3,941,762.58. This trade represents a 3.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 shares were sold at an average price of $37.59, for a total transaction of $96,192.81. Following the completion of the transaction, the executive vice president directly owned 78,121 shares in the company, valued at approximately $2,936,568.39. This represents a 3.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on NKE. Guggenheim reiterated a “buy” rating and issued a $50.00 target price on shares of NIKE in a research note on Thursday, October 22nd. UBS Group reiterated a “neutral” rating on shares of NIKE in a research report on Thursday, October 22nd. Oppenheimer set a $52.00 price target on NIKE and gave the stock an “outperform” rating in a research note on Wednesday, September 23rd. Williams Trading cut NIKE from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, Weiss Ratings downgraded shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, October 6th. One research 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. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $40.83.

NIKE Stock Performance

NIKE stock opened at $37.73 on Friday. The company has a market cap of $56.04 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 4.39 and a beta of 1.01. NIKE, Inc. has a 12 month low of $31.97 and a 12 month high of $69.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39. The stock’s 50-day moving average is $36.90 and its 200-day moving average is $45.10.

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

NIKE News Summary

Here’s some of the latest news 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.