NIKE, Inc. $NKE Shares Bought by Vest Financial LLC

Vest Financial LLC raised its stake in NIKE, Inc. (NYSE:NKE) by 9.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 182,796 shares of the footwear maker’s stock after purchasing an additional 15,492 shares during the period. Vest Financial LLC’s holdings in NIKE were worth $6,471,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Scarborough Advisors LLC bought a new position in shares of NIKE during the first quarter valued at approximately $25,000. Meeder Asset Management Inc. boosted its position in NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares during the period. Atlas Wealth LLC acquired a new position in NIKE during the 1st quarter valued at approximately $31,000. University of Texas Texas AM Investment Management Co. bought a new position in NIKE during the 2nd quarter worth $33,000. Finally, Main Street Group LTD bought a new position in NIKE during the 1st quarter worth $36,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other news, CFO Matthew Friend sold 2,463 shares of the company’s 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 completion of the sale, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at approximately $3,418,064. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer directly owned 104,862 shares of the company’s stock, valued at approximately $3,941,762.58. This represents a 3.38% 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. Insiders sold a total of 14,974 shares of company stock worth $600,126 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of several analyst reports. China Renaissance dropped their target price on NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. Bank of America reissued an “underperform” rating and set a $24.00 price target (down from $30.00) on shares of NIKE in a report on Friday, October 2nd. Piper Sandler set a $28.00 price target on shares of NIKE and gave the stock a “neutral” rating in a research report on Friday, October 2nd. Williams Trading cut shares of NIKE from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, Berenberg Bank set a $27.50 price objective on shares of NIKE and gave the company a “sell” rating in a research report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have assigned a Hold rating and eleven have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $40.93.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Several analysts expressed greater optimism: Guggenheim and BTIG Research reaffirmed “buy” ratings with $50 price targets, while Barclays raised its target to $45 and said the shares may be near a bottom. Argus Research also initiated or reiterated a buy view. These targets imply substantial potential upside from recent levels. Guggenheim rating
• Positive Sentiment: Recent quarterly results reportedly exceeded earnings expectations, helping support hopes that Nike’s brand reset, improved wholesale relationships and restructuring efforts can eventually stabilize growth. The stock remains well above its 52-week low after a prolonged decline. Nike fiscal first-quarter beat
• Positive Sentiment: Nike’s nearly 25-year dividend-growth record and forward yield of roughly 4.4% add income appeal for long-term investors, though the dividend’s sustainability depends on a successful recovery. Nike dividend analysis

NIKE Trading Up 2.0%

Shares of NKE stock opened at $38.26 on Friday. NIKE, Inc. has a 1 year low of $31.97 and a 1 year high of $70.44. The firm has a market capitalization of $56.83 billion, a PE ratio of 24.06, a price-to-earnings-growth ratio of 4.40 and a beta of 1.09. The stock has a fifty day moving average of $37.19 and a two-hundred day moving average of $41.31. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 2.07.

NIKE (NYSE:NKE) last issued its quarterly earnings results 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 company had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period last year, the company earned $0.49 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, research analysts expect that NIKE, Inc. will post 1.22 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, September 1st. NIKE’s dividend payout ratio is currently 78.85%.

About NIKE

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.