Incline Global Management LLC Takes $14.27 Million Position in NIKE, Inc. $NKE

Incline Global Management LLC acquired a new stake in NIKE, Inc. (NYSE:NKE) in the fourth quarter, HoldingsChannel reports. The fund acquired 223,998 shares of the footwear maker’s stock, valued at approximately $14,271,000. NIKE comprises 4.9% of Incline Global Management LLC’s holdings, making the stock its 6th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of NKE. J. Stern & Co. LLP grew its position in shares of NIKE by 49,010.4% in the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares during the period. Norges Bank bought a new position in shares of NIKE in the 4th quarter valued at about $829,956,000. Harris Associates L P bought a new position in shares of NIKE in the 2nd quarter valued at about $621,525,000. Capital World Investors grew its position in shares of NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares during the period. Finally, Jasper Ridge Partners L.P. grew its position in shares of NIKE by 2,492.4% in the 4th quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock valued at $311,111,000 after acquiring an additional 4,694,859 shares during the period. Institutional investors own 64.25% of the company’s stock.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is entering the World Cup with a major global marketing push, including new football boots, federation shirts, and refreshed store displays, which could boost brand visibility and merchandise sales. Nike gets World Cup opportunity it can’t afford to waste
• Positive Sentiment: Reports of record Knicks championship merchandise sales suggest strong demand tied to major sports moments, reinforcing Nike’s ability to monetize high-profile events. Nike (NKE) Sees Record Knicks Merch Sales As The World Cup Begins
• Neutral Sentiment: Several recent articles frame NIKE as a fairly valued stock after a multi-year decline, suggesting investors may see the shares as pricing in a lot of bad news already. Nike (NKE) Stock Price Looks Fair After Multi?Year Slide And DCF Check
• Neutral Sentiment: Analysts continue to compare Nike with stronger-performing footwear peers like Steven Madden, highlighting that Nike still faces turnaround pressure and relative growth concerns. NIKE vs. Steven Madden: Which Stock Has an Edge in the Footwear Space?
• Negative Sentiment: Nike is still viewed as struggling to regain momentum ahead of its June 30 earnings report, keeping attention on whether management can show a real improvement in the business. Nike Stock Struggling to Bounce Back Before Earnings

Insider Activity at NIKE

In other news, Director Timothy D. Cook purchased 25,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their position. The acquisition 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 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. This trade 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. Insiders have purchased a total of 64,441 shares of company stock worth $2,734,204 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

NIKE Price Performance

Shares of NIKE stock opened at $44.19 on Thursday. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The company has a 50-day simple moving average of $44.30 and a two-hundred day simple moving average of $54.99. The stock has a market capitalization of $65.45 billion, a price-to-earnings ratio of 29.27, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business had revenue of $11.28 billion during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The business’s revenue was up .1% on a year-over-year basis. Analysts forecast that NIKE, Inc. will post 1.49 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio is 108.61%.

Analysts Set New Price Targets

A number of research analysts have recently commented on NKE shares. Citigroup decreased their price objective on shares of NIKE from $53.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, June 10th. Weiss Ratings downgraded shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Berenberg Bank reaffirmed a “neutral” rating on shares of NIKE in a report on Wednesday, May 6th. DZ Bank reaffirmed a “buy” rating on shares of NIKE in a report on Tuesday, April 21st. Finally, Bank of America reaffirmed a “neutral” rating and set a $55.00 target price (down from $73.00) on shares of NIKE in a report on Wednesday, April 1st. Fifteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.89.

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).