NIKE, Inc. $NKE Stock Position Boosted by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC raised its position in NIKE, Inc. (NYSE:NKE) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,469 shares of the footwear maker’s stock after acquiring an additional 23,985 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in NIKE were worth $3,096,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Flossbach Von Storch SE acquired a new position in shares of NIKE during the second quarter worth $488,714,000. State Street Corp boosted its stake in shares of NIKE by 6.8% in the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock valued at $2,636,104,000 after purchasing an additional 4,052,428 shares during the period. Confluence Investment Management LLC boosted its stake in shares of NIKE by 873.8% in the third quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker’s stock valued at $96,310,000 after purchasing an additional 2,441,233 shares during the period. Equity Investment Corp acquired a new stake in NIKE during the 2nd quarter valued at $99,531,000. Finally, Amundi grew its holdings in NIKE by 59.4% during the 2nd quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock valued at $265,199,000 after purchasing an additional 2,406,609 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 1.5%

Shares of NYSE NKE opened at $37.73 on Friday. 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 stock’s 50 day moving average price is $36.90 and its two-hundred day moving average price is $45.10. NIKE, Inc. has a 52-week low of $31.97 and a 52-week high of $69.14. The stock has a market capitalization of $56.04 billion, a P/E ratio of 18.14, a PEG ratio of 4.39 and a beta of 1.01.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $11.32 billion. During the same quarter last year, the firm earned $0.49 EPS. The business’s revenue 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, analysts anticipate that NIKE, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling at NIKE

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer directly owned 104,862 shares in the company, valued at $3,941,762.58. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of NIKE stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $96,192.81. Following the completion of the transaction, the executive vice president directly owned 78,121 shares of the company’s stock, valued at approximately $2,936,568.39. This represents a 3.17% 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. Company insiders own 1.10% of the company’s stock.

Key NIKE News

Investors following NKE have been watching these news items:

• Positive Sentiment: A bullish long-term view argues that NIKE is intentionally reducing supply of Dunk and Jordan retro styles and cutting discounted online sales in China. Though these moves weigh on revenue now, restoring operating margins to fiscal 2024 levels could support a recovery even without sales growth. Investors may look for evidence in the margin target expected November 17. Article: Nike Stock Is Down 78% From Its Peak. Here’s Why I’d Buy and Hold for a Decade.
• Neutral Sentiment: Analyst views are mixed, and Cantor Fitzgerald has begun coverage of NIKE. The provided reports do not specify Cantor’s rating or price target, leaving the overall analyst signal unclear. Article: Analysts’ Opinions Are Mixed on These Consumer Cyclical Stocks Article: Cantor Fitzgerald Begins Coverage on NIKE
• Negative Sentiment: NIKE’s shares are down nearly 40% year to date amid sluggish demand, weakness in China and pressure on margins. The planned sales pullbacks may help clear inventory and protect pricing, but are also costing revenue in the near term. Recent quarterly revenue was below analyst expectations and declined year over year, reinforcing concerns about the pace of recovery. Article: NIKE’s Shares Slide Nearly 40% YTD: Is a Rebound in Sight?

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NKE shares. Wells Fargo & Company set a $30.00 price target on shares of NIKE and gave the stock an “equal weight” rating in a research note on Friday, October 2nd. Wall Street Zen cut shares of NIKE from a “hold” rating to a “sell” rating in a research report on Saturday, October 3rd. Guggenheim reissued a “buy” rating and issued a $50.00 price objective on shares of NIKE in a research report on Thursday, October 22nd. DZ Bank downgraded NIKE from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, October 2nd. Finally, Piper Sandler set a $28.00 target price on NIKE and gave the stock a “neutral” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-one have assigned a Hold rating and twelve have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $40.83.

NIKE Company Profile

NIKE, Inc. designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories. The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.