Public Employees Retirement System of Ohio Reduces Position in NIKE, Inc. $NKE

Public Employees Retirement System of Ohio decreased its stake in shares of NIKE, Inc. (NYSE:NKE) by 4.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 449,305 shares of the footwear maker’s stock after selling 22,771 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in NIKE were worth $18,444,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. J. Stern & Co. LLP grew its holdings in shares of NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares during the period. Norges Bank acquired a new position in shares of NIKE in the 4th quarter worth approximately $829,956,000. Flossbach Von Storch SE purchased a new position in shares of NIKE during the 2nd quarter worth approximately $488,714,000. Harris Associates L P purchased a new position in shares of NIKE during the 2nd quarter worth approximately $621,525,000. Finally, Capital World Investors increased its holdings in NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
• Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
• Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
• Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
• Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
• Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.

Insider Activity at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Venkatesh Alagirisamy sold 890 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $37,024.00. Following the transaction, the chief operating officer directly owned 74,820 shares in the company, valued at approximately $3,112,512. The trade was a 1.18% 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 have sold 26,142 shares of company stock valued at $1,169,380 over the last quarter. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NKE. Truist Financial set a $42.00 price target on NIKE and gave the stock a “hold” rating in a research note on Wednesday. Guggenheim reissued a “buy” rating and set a $60.00 target price (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. Piper Sandler lowered their price objective on shares of NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a research note on Thursday, June 4th. Finally, Oppenheimer decreased their price target on shares of NIKE from $120.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.94.

NIKE Trading Up 2.9%

Shares of NYSE:NKE opened at $39.57 on Friday. NIKE, Inc. has a 52 week low of $38.17 and a 52 week high of $79.13. The company’s 50 day moving average is $41.91 and its two-hundred day moving average is $47.11. The company has a market cap of $58.70 billion, a PE ratio of 18.93, a P/E/G ratio of 1.76 and a beta of 1.11. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same period in the previous year, the company earned $0.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is 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).