NIKE, Inc. $NKE Position Trimmed by Kimelman & Baird LLC

Kimelman & Baird LLC trimmed its stake in NIKE, Inc. (NYSE:NKE) by 99.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,968 shares of the footwear maker’s stock after selling 188,026 shares during the quarter. Kimelman & Baird LLC’s holdings in NIKE were worth $81,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NKE. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE in the fourth quarter worth approximately $26,000. Sankala Group LLC purchased a new position in NIKE during the fourth quarter valued at approximately $26,000. J.Safra Asset Management Corp purchased a new position in NIKE during the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in NIKE in the 4th quarter valued at approximately $30,000. Finally, Scarborough Advisors LLC acquired a new position in NIKE in the 1st quarter valued at approximately $25,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of NIKE stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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. Also, COO Venkatesh Alagirisamy sold 890 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $37,024.00. Following the completion of the sale, the chief operating officer owned 74,820 shares in the company, valued at $3,112,512. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 26,142 shares of company stock worth $1,169,380. Insiders own 1.10% of the company’s stock.

NIKE Stock Up 2.9%

NIKE stock opened at $39.57 on Friday. The firm has a market cap of $58.70 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.71 and a beta of 1.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. NIKE, Inc. has a fifty-two week low of $38.17 and a fifty-two week high of $79.13. The firm has a fifty day moving average price of $41.91 and a two-hundred day moving average price of $47.11.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping 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 company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same period in the previous year, the company earned $0.14 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders 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 dividend yield of 4.1%. The ex-dividend date is Tuesday, September 1st. NIKE’s payout ratio is 78.47%.

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.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NKE shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $45.00 price objective on shares of NIKE in a report on Tuesday. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a research report on Tuesday. Argus raised NIKE to a “strong-buy” rating in a research note on Wednesday, July 15th. Telsey Advisory Group set a $47.00 price target on NIKE and gave the stock a “market perform” rating in a research note on Wednesday, July 1st. Finally, Bank of America reduced their price target on NIKE from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.94.

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).