Arkfeld Wealth Strategies L.L.C. Purchases 111,668 Shares of NIKE, Inc. $NKE

Arkfeld Wealth Strategies L.L.C. acquired a new position in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, Holdings Channel reports. The institutional investor acquired 111,668 shares of the footwear maker’s stock, valued at approximately $3,837,000. NIKE comprises 1.0% of Arkfeld Wealth Strategies L.L.C.’s portfolio, making the stock its 26th largest position.

Several other hedge funds have also modified their holdings of the stock. Flossbach Von Storch SE purchased a new position in NIKE in the second quarter valued at $488,714,000. State Street Corp grew its stake in NIKE by 6.8% during the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after purchasing an additional 4,052,428 shares in the last quarter. Confluence Investment Management LLC increased its holdings in NIKE by 873.8% during the 3rd quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker’s stock worth $96,310,000 after purchasing an additional 2,441,233 shares during the period. Equity Investment Corp purchased a new stake in NIKE during the 2nd quarter worth about $99,531,000. Finally, Amundi increased its holdings in NIKE by 59.4% during the 2nd quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock worth $265,199,000 after purchasing an additional 2,406,609 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other NIKE news, CFO Matthew Friend sold 2,463 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 82,165 shares in the company, valued at $3,418,064. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the sale, the insider directly owned 57,436 shares in the company, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 14,974 shares of company stock valued at $600,126. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BTIG Research decreased their price objective on NIKE from $55.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, October 2nd. Citigroup lowered their price objective on NIKE from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. KeyCorp restated a “sector weight” rating on shares of NIKE in a research note on Friday, October 2nd. Raymond James Financial reaffirmed a “market perform” rating on shares of NIKE in a report on Tuesday, September 29th. Finally, Rothschild & Co Redburn reduced their target price on shares of NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-one have issued a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Reduce” and an average target price of $41.07.

NIKE Stock Down 0.3%

NIKE stock traded down $0.12 during midday trading on Monday, reaching $37.01. The company’s stock had a trading volume of 8,347,044 shares, compared to its average volume of 24,742,426. The company has a market cap of $54.96 billion, a P/E ratio of 17.81, a P/E/G ratio of 4.19 and a beta of 1.09. The company has a quick ratio of 1.39, a current ratio of 2.07 and a debt-to-equity ratio of 0.39. The business has a 50-day simple moving average of $37.48 and a 200-day simple moving average of $41.56. NIKE, Inc. has a fifty-two week low of $31.97 and a fifty-two week high of $70.44.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, research analysts expect that NIKE, Inc. will post 1.26 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, September 1st. NIKE’s dividend payout ratio is 78.85%.

NIKE Profile

NIKE, Inc is a global athletic footwear, apparel, equipment and accessories company headquartered near Beaverton, Oregon. The company designs, develops, markets and sells products under the Nike, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s product portfolio includes athletic and casual footwear, performance and lifestyle apparel, sports equipment, accessories and digital fitness-related offerings. The company distributes its products through company-owned retail stores, digital platforms and wholesale partners, while also operating direct-to-consumer and membership programs.

The company traces its origins to 1964, when Phil Knight and Bill Bowerman founded Blue Ribbon Sports.