Locust Wood Capital Advisers LLC Sells 578,396 Shares of NIKE, Inc. $NKE

Locust Wood Capital Advisers LLC reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 31.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,282,705 shares of the footwear maker’s stock after selling 578,396 shares during the period. NIKE accounts for about 2.0% of Locust Wood Capital Advisers LLC’s holdings, making the stock its 23rd biggest position. Locust Wood Capital Advisers LLC’s holdings in NIKE were worth $81,721,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NKE. Mizuho Markets Cayman LP bought a new position in NIKE in the 3rd quarter valued at $34,200,000. PFA Pension Forsikringsaktieselskab purchased a new stake in NIKE during the fourth quarter worth about $43,188,000. Strive Asset Management LLC bought a new stake in NIKE in the third quarter worth about $1,743,000. Nicholas Company Inc. increased its stake in shares of NIKE by 33.3% during the 4th quarter. Nicholas Company Inc. now owns 123,652 shares of the footwear maker’s stock worth $7,878,000 after purchasing an additional 30,890 shares during the last quarter. Finally, Park National Corp OH lifted its stake in NIKE by 81.5% in the fourth quarter. Park National Corp OH now owns 431,055 shares of the footwear maker’s stock valued at $27,463,000 after purchasing an additional 193,514 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $43.05 on Monday. The firm has a market cap of $63.75 billion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.86 and a beta of 1.12. The business has a 50 day moving average price of $44.85 and a 200-day moving average price of $56.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. NIKE, Inc. has a fifty-two week low of $41.35 and a fifty-two week high of $80.17.

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

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s payout ratio is currently 108.61%.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is leaning into its football business ahead of the World Cup, and analysts said the company’s investor event reinforced CEO Elliott Hill’s plan to rebuild the brand sport by sport and region by region. That could support the long-term turnaround narrative. Nike bets big on Beautiful Game ahead of World Cup
• Positive Sentiment: Investor interest in NIKE remains elevated, with recent coverage highlighting that the stock is still drawing attention from market watchers as they evaluate the company’s outlook and earnings trajectory. NIKE, Inc. (NKE) is Attracting Investor Attention: Here is What You Should Know
• Positive Sentiment: NIKE continues to push a high-profile marketing campaign, “Rip The Script,” featuring major athletes and celebrities, which may help brand visibility and demand heading into a key sports calendar. NKE Stock Eyes Red Week Ahead Of FIFA World Cup: Nike’s Star-Studded Campaign Can’t Stop It From Falling
• Neutral Sentiment: Several articles focused on shifting investor narratives and watched-the-stock commentary, but no new price target or major fundamental update was announced, limiting the immediate catalyst. How The Narrative Around Nike (NKE) Is Evolving Without A New Price Target
• Neutral Sentiment: Commentary on a possible legal inquiry about insider duties did not provide clear evidence of wrongdoing, so it is more of a headline risk than a confirmed stock-moving event. Did NIKE, Inc. Insiders Breach their Fiduciary Duties to Shareholders?
• Negative Sentiment: Some coverage suggests NIKE still faces questions about regaining momentum in a changing consumer market, while the stock has also been pressured by broader concerns that the turnaround may take time. Can Nike Regain Momentum In A Changing Consumer Market?
• Negative Sentiment: Market chatter also highlights a “red week” narrative ahead of the FIFA World Cup, implying investors remain skeptical that NIKE’s ad campaign alone will quickly reverse the stock’s weakness. Curry Defection And World Cup Push Test Nike Turnaround Expectations

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NKE. Royal Bank Of Canada reaffirmed a “buy” rating on shares of NIKE in a research report on Wednesday, April 1st. The Goldman Sachs Group restated a “neutral” rating and set a $52.00 target price on shares of NIKE in a research report on Friday. Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a research note on Monday, May 11th. DZ Bank reiterated a “buy” rating on shares of NIKE in a research report on Tuesday, April 21st. Finally, Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Sixteen research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, NIKE has an average rating of “Hold” and a consensus price target of $62.04.

Insider Activity

In other news, Director Robert Holmes Swan acquired 11,781 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was bought at an average cost of $42.44 per share, for a total transaction of $499,985.64. Following the acquisition, the director directly owned 55,074 shares in the company, valued at approximately $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy D. Cook acquired 25,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were bought at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director directly owned 130,480 shares of the company’s stock, valued at $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 64,441 shares of company stock worth $2,734,204 over the last three months. 0.80% of the stock is currently owned by insiders.

NIKE 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).