NIKE, Inc. $NKE Position Increased by Saturna Capital Corp

Saturna Capital Corp boosted its position in shares of NIKE, Inc. (NYSE:NKE) by 18.5% in the first quarter, Holdings Channel.com reports. The firm owned 356,440 shares of the footwear maker’s stock after purchasing an additional 55,710 shares during the period. Saturna Capital Corp’s holdings in NIKE were worth $18,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J. Stern & Co. LLP increased its position in 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 worth $3,061,555,000 after purchasing an additional 47,956,692 shares during the last quarter. Norges Bank acquired a new stake in shares of NIKE during the 4th quarter valued at about $829,956,000. Harris Associates L P acquired a new stake in shares of NIKE during the 2nd quarter valued at about $621,525,000. Capital World Investors grew its stake 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 buying an additional 6,830,938 shares in the last quarter. Finally, Jasper Ridge Partners L.P. grew its stake 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 buying an additional 4,694,859 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NKE shares. Jefferies Financial Group dropped their price objective on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Truist Financial reduced their target price on shares of NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Needham & Company LLC reissued a “hold” rating on shares of NIKE in a research report on Thursday, June 4th. Royal Bank Of Canada restated a “neutral” rating on shares of NIKE in a research note on Wednesday, July 1st. Finally, Telsey Advisory Group set a $47.00 price target on shares of NIKE and gave the company a “market perform” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, NIKE has a consensus rating of “Hold” and a consensus target price of $53.86.

Insider Activity at NIKE

In other news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction on 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 sale, the executive vice president directly owned 53,133 shares in the company, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. 1.10% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NYSE NKE opened at $42.99 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The firm has a market cap of $63.66 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.92 and a beta of 1.12. The business’s 50-day simple moving average is $43.70 and its 200-day simple moving average is $51.52. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17.

NIKE (NYSE:NKE) last posted its earnings results 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 analyst estimates of $10.85 billion. During the same period in the previous year, the company earned $0.14 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a $0.41 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is restructuring its China e-commerce strategy by steering shoppers to official channels and cutting off thousands of third-party online distributors, a move that could improve brand control, reduce marketplace clutter, and support margins. Nike to cut off thousands of online distributors in China, restructure digital footprint
• Positive Sentiment: The company’s focus on new performance products, advanced technologies, and its “Sport Offense” strategy could help reignite demand over time if the innovation pipeline converts into stronger sales. NIKE’s Innovation Pipeline: Can New Products Spark Demand?
• Neutral Sentiment: Analyst commentary and market-activity coverage suggest investors are closely monitoring NIKE’s turnaround story, but these items do not appear to add a major new catalyst on their own. SA analyst upgrades/downgrades: NKE, DDOG, BIDU, INTC
• Neutral Sentiment: Commentary on NIKE’s broader brand reset, retail growth strategy, and stock activity reflects ongoing debate about the turnaround, but these headlines are more diagnostic than immediately actionable. Nike (NYSE:NKE) Faces A Crucial Brand Reset
• Neutral Sentiment: Coverage noting NIKE’s miss on World Cup final exposure and LeBron James’ criticism underscores brand relevance concerns, but the effect is longer-term and harder to quantify immediately. Nike Misses World Cup Final as Adidas Gains Merchandise Opportunity
• Negative Sentiment: Ongoing concerns about weak consumer demand, heavy discounting in key Sportswear and Jordan lines, and questions about cultural relevance continue to weigh on sentiment for NIKE. The Bull Case For NIKE (NKE) Could Change Following Missed World Cup Moment And Brand Relevance Questions
• Negative Sentiment: LeBron James’ comments that NIKE needs to reconnect with local communities and consumers reinforce the view that the brand still has a turnaround problem to solve. LeBron James exposes Nike’s hidden turnaround problem

NIKE Company Profile

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).