Platform Wealth Management LLC Purchases New Shares in NIKE, Inc. $NKE

Platform Wealth Management LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 86,850 shares of the footwear maker’s stock, valued at approximately $5,533,000. NIKE accounts for about 1.5% of Platform Wealth Management LLC’s holdings, making the stock its 17th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in NKE. Gordian Capital Singapore Pte Ltd bought a new stake in NIKE in the third quarter worth about $35,000. Accredited Wealth Management LLC grew its stake in shares of NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after buying an additional 376 shares during the last quarter. Strive Asset Management LLC purchased a new stake in shares of NIKE in the third quarter worth approximately $40,000. Matrix Trust Co raised its holdings in shares of NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock worth $38,000 after buying an additional 181 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of NIKE during the 3rd quarter worth approximately $43,000. 64.25% of the stock is currently owned by institutional investors.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Negative Sentiment: NIKE was downgraded by Zacks Research from “hold” to “strong sell,” reinforcing bearish sentiment around the stock. Tickerreport.com
• Negative Sentiment: Technical weakness remains a concern after NIKE slipped below its 50-day moving average, with analysts pointing to inventory cleanup, weak sportswear trends, and China-related pressure on sales and margins. Zacks.com
• Negative Sentiment: A DCF analysis valued NIKE well below its market price, suggesting the shares could still be overvalued if earnings growth does not reaccelerate. GuruFocus
• Negative Sentiment: Recent coverage noted that NIKE’s stock declined while the broader market improved, highlighting continuing investor skepticism about the turnaround story. Yahoo Finance
• Neutral Sentiment: NIKE is expanding its use of AI and launched an internal AI learning platform for employees, but management also warned that productivity gains may take time and could be overstated in the near term. Yahoo Finance
• Neutral Sentiment: Commentary continues to emphasize NIKE’s strong brand appeal and long-term consumer loyalty, which could help support a future rebound if execution improves. 247WallSt

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on NKE shares. BNP Paribas Exane cut their price objective on NIKE from $35.00 to $23.00 and set an “underperform” rating on the stock in a research report on Wednesday, April 1st. Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Stifel Nicolaus lowered their target price on shares of NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a research note on Wednesday, April 1st. HSBC cut shares of NIKE from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $48.00 in a report on Monday, April 13th. Finally, Wells Fargo & Company set a $45.00 price objective on shares of NIKE and gave the company an “equal weight” rating in a report on Friday, May 8th. Sixteen investment 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.04.

NIKE Stock Up 0.2%

NYSE:NKE opened at $43.82 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The company has a 50-day moving average of $45.25 and a 200 day moving average of $56.31. NIKE, Inc. has a 1-year low of $41.35 and a 1-year high of $80.17. The firm has a market cap of $64.89 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.86 and a beta of 1.12.

NIKE (NYSE:NKE) last issued 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. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 1.5 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. NIKE’s dividend payout ratio is presently 108.61%.

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).