Western Wealth Management LLC Increases Holdings in NIKE, Inc. $NKE

Western Wealth Management LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 98.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,030 shares of the footwear maker’s stock after buying an additional 16,383 shares during the period. Western Wealth Management LLC’s holdings in NIKE were worth $1,745,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. E Wealth Partners LLC purchased a new position in NIKE during the 1st quarter valued at about $279,000. FAS Wealth Partners Inc. lifted its position in shares of NIKE by 4.2% in the 1st quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock worth $323,000 after purchasing an additional 249 shares during the period. Pine Valley Investments Ltd Liability Co lifted its position in shares of NIKE by 43.2% in the 1st quarter. Pine Valley Investments Ltd Liability Co now owns 41,295 shares of the footwear maker’s stock worth $2,182,000 after purchasing an additional 12,464 shares during the period. Honeycomb Asset Management LP bought a new position in shares of NIKE during the first quarter valued at approximately $1,258,000. Finally, Allen Capital Group LLC boosted its stake in shares of NIKE by 8.0% during the first quarter. Allen Capital Group LLC now owns 62,937 shares of the footwear maker’s stock valued at $3,324,000 after purchasing an additional 4,687 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent analyst reports. Sanford C. Bernstein restated an “outperform” rating and issued a $68.00 target price (down from $72.00) on shares of NIKE in a research note on Wednesday, July 29th. UBS Group set a $48.00 price target on NIKE and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Robert W. Baird reiterated an “outperform” rating and set a $70.00 price objective on shares of NIKE in a report on Wednesday, July 1st. Guggenheim reissued a “buy” rating and issued a $60.00 price objective (down from $74.00) on shares of NIKE in a research report on Wednesday, July 1st. Finally, Rothschild & Co Redburn dropped their target price on NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eighteen have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $53.53.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE’s quarterly dividend could receive another modest increase. The company has delivered 24 consecutive years of dividend growth, and a higher payout would support the stock’s income appeal, although the current payout ratio is already relatively high. NIKE Dividend: Why a Small Increase Could Be on the Way
• Positive Sentiment: The company’s latest earnings report exceeded consensus expectations for both earnings per share and revenue. However, the revenue decline indicates that the beat was not accompanied by renewed top-line growth.
• Neutral Sentiment: NIKE’s turnaround remains the central investor focus. Efforts to improve product innovation, inventory management, international logistics and brand momentum could eventually restore growth and reduce markdowns, but the timing and effectiveness of the recovery remain uncertain. Why Is Nike the Consumer Name Markets Track Through Its Turnaround?
• Negative Sentiment: Analyst concerns intensified after Seeking Alpha downgraded NIKE, arguing that a return to full-price selling and normalized profitability will take time. A separate Zacks Research revision lowered its FY2029 EPS estimate to $2.56 from $2.63 and maintained a “Strong Sell” rating. Nike: Full Price Recovery Will Take Time
• Negative Sentiment: Greater China remains a major weakness. Local competitors are taking market share, while rival brands are reporting stronger regional growth, raising concerns about NIKE’s revenue trajectory and brand strength in an important market. China’s Athleisure Boom Is Not Lifting Every Brand Equally
• Negative Sentiment: NIKE underperformed during a broader footwear-sector selloff as investors questioned consumer demand, competition and the pace of the recovery. Insider Amy Montagne also sold 4,867 shares, reducing her holdings by 7.81%; she nevertheless retained a substantial position. Amy Montagne Sells NIKE Shares

NIKE Trading Down 1.8%

Shares of NIKE stock opened at $40.57 on Thursday. 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, Inc. has a 12-month low of $40.00 and a 12-month high of $80.17. The firm has a market capitalization of $60.19 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 1.83 and a beta of 1.11. The firm’s 50 day simple moving average is $42.99 and its two-hundred day simple moving average is $48.95.

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

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 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 Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

Insider Activity

In other NIKE news, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $102,460.80. Following the completion of the transaction, the chief financial officer owned 82,165 shares of the company’s stock, valued at approximately $3,418,064. The trade was a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 890 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $37,024.00. Following the completion of the transaction, the chief operating officer owned 74,820 shares of the company’s stock, valued at approximately $3,112,512. This trade represents a 1.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,142 shares of company stock worth $1,169,380 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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).