Redwood Investment Management LLC Buys New Stake in NIKE, Inc. $NKE

Redwood Investment Management LLC bought a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 2nd quarter, Holdings Channel reports. The firm bought 17,013 shares of the footwear maker’s stock, valued at approximately $698,000.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Westerkirk Capital Inc. increased its holdings in shares of NIKE by 52.4% in the fourth quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker’s stock valued at $8,360,000 after buying an additional 45,100 shares in the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of NIKE by 77.9% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker’s stock valued at $160,943,000 after acquiring an additional 1,106,499 shares during the last quarter. OneDigital Investment Advisors LLC boosted its stake in shares of NIKE by 32.8% during the 2nd quarter. OneDigital Investment Advisors LLC now owns 244,296 shares of the footwear maker’s stock worth $10,028,000 after acquiring an additional 60,375 shares in the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in shares of NIKE during the 4th quarter worth $43,188,000. Finally, Nicholas Company Inc. grew its holdings in shares of NIKE by 33.3% in the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock worth $7,878,000 after acquiring an additional 30,890 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of recent analyst reports. Barclays cut their target price on NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. BTIG Research reissued a “buy” rating and issued a $55.00 price target on shares of NIKE in a research note on Wednesday, July 1st. Citigroup restated a “neutral” rating on shares of NIKE in a report on Wednesday, July 22nd. Truist Financial set a $42.00 price objective on shares of NIKE and gave the company a “hold” rating in a research note on Wednesday. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of NIKE in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.94.

NIKE Price Performance

NKE opened at $38.34 on Friday. The stock has a fifty day moving average of $42.02 and a 200-day moving average of $47.17. The firm has a market capitalization of $56.88 billion, a P/E ratio of 18.34, a PEG ratio of 1.71 and a beta of 1.11. NIKE, Inc. has a 12-month low of $38.17 and a 12-month high of $79.13. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

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

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.3%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is appointing a senior executive with Walmart experience as it seeks to improve sales execution and rebuild momentum. The leadership addition provides a potential catalyst, although investors will likely want evidence of stronger results before changing their outlook. Nike taps Walmart veteran to help drive comeback
• Positive Sentiment: Some valuation measures suggest NKE shares may be undervalued after the prolonged decline. However, discounted-cash-flow analysis indicates the stock may be closer to fairly valued, limiting the strength of the bullish argument. Nike stock valuation analysis
• Positive Sentiment: Recent insider activity includes purchases by CEO Elliott Hill and other executives, signaling that some insiders view the depressed share price as attractive. Institutional positioning was mixed, with some large investors adding shares while others reduced holdings. Nike stock opinions and trading activity
• Neutral Sentiment: NIKE’s latest quarterly results exceeded earnings and revenue estimates, but revenue still declined year over year, reinforcing the view that the company’s recovery remains incomplete.
• Negative Sentiment: Truist downgraded NKE to Hold after weakness at retail partner Dick’s Sporting Goods raised concerns about soft traffic, muted consumer demand and a potentially longer turnaround. Analysts have also lowered price targets, citing China-related challenges. Why Nike stock is falling
• Negative Sentiment: Commentary highlights continued market-share erosion, legacy inventory issues and negative reactions to some upcoming Air Jordan designs, raising questions about NIKE’s product innovation and brand relevance. Nike performance struggles
• Negative Sentiment: Investors are also assessing dividend sustainability: NIKE’s payout growth could become more difficult to maintain if earnings do not improve materially during the turnaround. Nike dividend sustainability

Insiders Place Their Bets

In other NIKE news, insider Amy Montagne sold 4,867 shares of NIKE stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the transaction, the insider owned 57,436 shares of the company’s stock, valued at $2,415,183.80. The trade was a 7.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Philip Mccartney sold 17,398 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders have sold 26,142 shares of company stock valued at $1,169,380. 1.10% of the stock is owned by insiders.

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).