CI Investments Inc. Trims Holdings in NIKE, Inc. $NKE

CI Investments Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 31.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 730,750 shares of the footwear maker’s stock after selling 332,574 shares during the period. CI Investments Inc.’s holdings in NIKE were worth $38,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cornerstone Financial Management LLC acquired a new stake in NIKE during the fourth quarter worth approximately $26,000. Sankala Group LLC purchased a new stake in NIKE in the 4th quarter worth approximately $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 shares of NIKE during the 4th quarter worth $30,000. Finally, Scarborough Advisors LLC purchased a new position in shares of NIKE during the 1st quarter worth $25,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Trading Down 1.1%

NKE stock opened at $42.99 on Wednesday. The company has a market cap of $63.66 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.92 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $43.70 and a 200-day simple moving average of $51.52. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter last year, the firm earned $0.14 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts expect that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, June 1st. NIKE’s dividend payout ratio (DPR) is 78.47%.

Insider Buying and Selling at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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. 1.10% of the stock is owned by corporate insiders.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is restructuring its China e-commerce strategy by steering shoppers to official channels and cutting off thousands of third-party online distributors, a move that could improve brand control, reduce marketplace clutter, and support margins. Nike to cut off thousands of online distributors in China, restructure digital footprint
• Positive Sentiment: The company’s focus on new performance products, advanced technologies, and its “Sport Offense” strategy could help reignite demand over time if the innovation pipeline converts into stronger sales. NIKE’s Innovation Pipeline: Can New Products Spark Demand?
• Neutral Sentiment: Analyst commentary and market-activity coverage suggest investors are closely monitoring NIKE’s turnaround story, but these items do not appear to add a major new catalyst on their own. SA analyst upgrades/downgrades: NKE, DDOG, BIDU, INTC
• Neutral Sentiment: Commentary on NIKE’s broader brand reset, retail growth strategy, and stock activity reflects ongoing debate about the turnaround, but these headlines are more diagnostic than immediately actionable. Nike (NYSE:NKE) Faces A Crucial Brand Reset
• Neutral Sentiment: Coverage noting NIKE’s miss on World Cup final exposure and LeBron James’ criticism underscores brand relevance concerns, but the effect is longer-term and harder to quantify immediately. Nike Misses World Cup Final as Adidas Gains Merchandise Opportunity
• Negative Sentiment: Ongoing concerns about weak consumer demand, heavy discounting in key Sportswear and Jordan lines, and questions about cultural relevance continue to weigh on sentiment for NIKE. The Bull Case For NIKE (NKE) Could Change Following Missed World Cup Moment And Brand Relevance Questions
• Negative Sentiment: LeBron James’ comments that NIKE needs to reconnect with local communities and consumers reinforce the view that the brand still has a turnaround problem to solve. LeBron James exposes Nike’s hidden turnaround problem

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NKE. JPMorgan Chase & Co. lowered their price objective on NIKE from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Jefferies Financial Group reduced their target price on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. The Goldman Sachs Group decreased their price target on NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Telsey Advisory Group set a $47.00 price target on NIKE and gave the company a “market perform” rating in a report on Wednesday, July 1st. Finally, Zacks Research cut NIKE from a “hold” rating to a “strong sell” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Hold” and an average price target of $53.86.

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).