NIKE, Inc. $NKE Shares Sold by Canoe Financial LP

Canoe Financial LP reduced its stake in NIKE, Inc. (NYSE:NKE) by 15.4% during the 1st quarter, HoldingsChannel reports. The firm owned 91,920 shares of the footwear maker’s stock after selling 16,700 shares during the period. Canoe Financial LP’s holdings in NIKE were worth $4,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the fourth quarter worth $26,000. Sankala Group LLC acquired a new position in NIKE in the 4th quarter valued at $26,000. J.Safra Asset Management Corp acquired a new position in NIKE in the 4th quarter valued at $29,000. Kemnay Advisory Services Inc. purchased a new position in NIKE during the 4th quarter worth $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in NIKE during the 4th quarter worth $32,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Oppenheimer lowered its price target to $60 but kept an outperform rating, signaling some analysts still see meaningful upside from current levels. Oppenheimer target update
• Positive Sentiment: Investors are also watching for any improvement from NIKE’s “Win Now” turnaround strategy and upcoming guidance, which could help support sentiment if management shows clearer progress. Nike fiscal Q4 preview
• Neutral Sentiment: NIKE is expected to report results after Tuesday’s close, and traders are bracing for a potentially large post-earnings move as attention centers on revenue trends, margins, and forward guidance. Investopedia earnings move preview
• Neutral Sentiment: Wall Street is closely focused on the new CFO transition, with investors waiting to see whether leadership changes help or hurt execution in the near term. Nike shares in focus as company names new CFO
• Negative Sentiment: KeyBanc turned more cautious, saying NIKE’s recovery is taking longer than expected amid slower turnaround progress and stronger competition from rivals. KeyBanc downgrade
• Negative Sentiment: Other coverage points to a “soft” quarter, with pressure from China weakness, tariffs, promotions, and operational uncertainty weighing on expectations ahead of earnings. Nike likely to report soft quarterly results
• Negative Sentiment: Stifel and Deutsche Bank also cut price targets, reinforcing a more cautious Street view before the report. Stifel target cut Deutsche Bank target cut

NIKE Price Performance

Shares of NYSE NKE opened at $40.76 on Monday. The firm has a market capitalization of $60.36 billion, a P/E ratio of 26.99, a PEG ratio of 1.77 and a beta of 1.12. NIKE, Inc. has a one year low of $40.00 and a one year high of $80.17. The company’s fifty day moving average is $44.19 and its two-hundred day moving average is $53.89. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period in the prior year, the company posted $0.54 EPS. The business’s revenue for the quarter was up .1% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, June 1st. NIKE’s dividend payout ratio is presently 108.61%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NKE shares. Williams Trading lowered their target price on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. BTIG Research reiterated a “buy” rating and set a $55.00 price target (down from $75.00) on shares of NIKE in a research note on Thursday. Oppenheimer reduced their price objective on shares of NIKE to $60.00 and set an “outperform” rating for the company in a research report on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a report on Thursday, June 4th. Finally, Zacks Research lowered NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. Fourteen analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $59.01.

Insider Buying and Selling

In related news, Director Timothy D. Cook bought 25,000 shares of the company’s stock in a transaction on Friday, April 10th. The stock was bought at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. This represents a 23.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Elliott Hill purchased 23,660 shares of NIKE stock in a transaction dated Monday, April 13th. The shares were bought at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares in the company, valued at approximately $11,211,990.69. This trade represents a 9.79% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 64,441 shares of company stock valued at $2,734,204 in the last 90 days. 0.80% of the stock is owned by corporate insiders.

NIKE 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).