NIKE, Inc. $NKE Stock Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in NIKE, Inc. (NYSE:NKE) by 24.5% in the third quarter, Holdings Channel.com reports. The firm owned 587,884 shares of the footwear maker’s stock after selling 190,762 shares during the quarter. Fifth Third Bancorp’s holdings in NIKE were worth $20,811,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Scarborough Advisors LLC bought a new stake in shares of NIKE during the 1st quarter valued at $25,000. Reyes Financial Architecture Inc. purchased a new stake in shares of NIKE in the 3rd quarter worth about $26,000. Meeder Asset Management Inc. increased its stake in shares of NIKE by 108.4% in 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 in the last quarter. Atlas Wealth LLC bought a new position in shares of NIKE in the 1st quarter worth about $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new position in shares of NIKE in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Key NIKE News

Here’s some of the latest news about NKE:

• Positive Sentiment: BTIG Research reaffirmed its “Buy” rating and set a $50 price target, about 31.8% above the cited $37.94 share price. The target signals confidence in potential recovery, though it is an analyst opinion rather than a company forecast. Read the report
• Neutral Sentiment: Trefis published an article focused on NIKE’s “biggest opportunity,” but the supplied information does not describe the opportunity or its potential financial impact. Read the article
• Negative Sentiment: Recent coverage says NIKE shares are down nearly 40% year to date amid sluggish demand, weakness in China and margin pressure. These concerns could limit the scope for a rebound unless operating trends improve. Read the article

Insider Buying and Selling at NIKE

In other news, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the transaction, the chief operating officer directly owned 104,862 shares of the company’s stock, valued at $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the sale, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. This trade represents a 3.17% 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. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on NKE. Evercore dropped their price objective on shares of NIKE from $46.00 to $28.00 in a research note on Monday, September 28th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $30.00 target price (down from $38.00) on shares of NIKE in a research note on Friday, October 2nd. Citigroup lowered their target price on shares of NIKE from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, October 2nd. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Wednesday. Finally, Freedom Broker raised NIKE from a “hold” rating to a “buy” rating and dropped their price target for the stock from $54.00 to $51.00 in a research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have assigned a Hold rating and twelve have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $40.83.

NIKE Price Performance

Shares of NKE opened at $37.94 on Friday. NIKE, Inc. has a twelve month low of $31.97 and a twelve month high of $69.14. The company has a market capitalization of $56.35 billion, a P/E ratio of 24.20, a price-to-earnings-growth ratio of 4.33 and a beta of 1.01. The firm has a 50 day moving average of $36.88 and a 200 day moving average of $44.97. The company has a quick ratio of 1.39, a current ratio of 2.07 and a debt-to-equity ratio of 0.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.05. The business had revenue of $11.21 billion for the quarter, compared to analysts’ expectations of $11.32 billion. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 1.24 earnings per share for the current fiscal year.

NIKE Profile

NIKE, Inc. designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories. The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.