Wedbush Securities Inc. Has $4.67 Million Stock Position in NIKE, Inc. $NKE

Wedbush Securities Inc. boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 52.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,637 shares of the footwear maker’s stock after purchasing an additional 39,059 shares during the period. Wedbush Securities Inc.’s holdings in NIKE were worth $4,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Scarborough Advisors LLC acquired a new stake in shares of NIKE during the first quarter worth approximately $25,000. Cornerstone Financial Management LLC acquired a new position in shares of NIKE in the 4th quarter worth approximately $26,000. Sankala Group LLC acquired a new position in shares of NIKE in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. grew its position in NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in NIKE during the 4th quarter valued at $29,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a research report on Tuesday. Wells Fargo & Company lowered their target price on NIKE from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 1st. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. BTIG Research reiterated a “buy” rating and set a $55.00 price target on shares of NIKE in a research report on Wednesday, July 1st. Finally, Evercore set a $46.00 price objective on shares of NIKE and gave the stock an “in-line” rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $52.94.

NIKE Price Performance

NIKE stock opened at $39.57 on Friday. The business’s 50-day simple moving average is $41.91 and its 200 day simple moving average is $47.11. The stock has a market cap of $58.70 billion, a price-to-earnings ratio of 18.93, a P/E/G ratio of 1.76 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 announced its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share 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 firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same period in the previous year, the business posted $0.14 EPS. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, research analysts anticipate that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Announces Dividend

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 paid a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.1%. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Insider Buying and Selling at NIKE

In other news, CFO Matthew Friend sold 2,463 shares of the business’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 $102,460.80. Following the completion of the transaction, the chief financial officer owned 82,165 shares of the company’s stock, valued at $3,418,064. The trade was a 2.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 890 shares of the stock in a transaction dated Wednesday, August 5th. The stock was 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 of the company’s stock, valued at $3,112,512. This trade represents a 1.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 26,142 shares of company stock worth $1,169,380 over the last quarter. 1.10% of the stock is currently owned by insiders.

Key Stories Impacting NIKE

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.

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).