Cacti Asset Management LLC Increases Stock Position in NIKE, Inc. $NKE

Cacti Asset Management LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 7.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 348,782 shares of the footwear maker’s stock after buying an additional 24,816 shares during the period. NIKE makes up about 0.7% of Cacti Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Cacti Asset Management LLC’s holdings in NIKE were worth $14,318,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. J. Stern & Co. LLP grew its stake in shares of NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Norges Bank acquired a new position in shares of NIKE in the fourth quarter worth about $829,956,000. Flossbach Von Storch SE acquired a new position in shares of NIKE in the second quarter worth about $488,714,000. Harris Associates L P purchased a new position in NIKE in the second quarter valued at about $621,525,000. Finally, Capital World Investors boosted its holdings in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
• Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
• Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
• Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
• Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
• Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.

Insider Buying and Selling

In other news, CFO Matthew Friend sold 2,463 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer owned 82,165 shares in the company, valued at approximately $3,418,064. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the sale, the insider directly owned 57,436 shares in the company, valued at approximately $2,415,183.80. This trade represents a 7.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 26,142 shares of company stock valued at $1,169,380 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NKE. JPMorgan Chase & Co. restated an “underweight” rating and set a $40.00 price objective (down from $47.00) on shares of NIKE in a report on Tuesday, August 4th. Berenberg Bank set a $49.00 price target on shares of NIKE and gave the stock a “hold” rating in a research note on Friday, July 3rd. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a research note on Tuesday. Robert W. Baird reissued an “outperform” rating and issued a $70.00 price objective on shares of NIKE in a report on Wednesday, July 1st. Finally, Barclays reduced their price objective on NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $52.94.

NIKE Stock Up 2.9%

NYSE:NKE opened at $39.57 on Friday. The firm has a market capitalization of $58.70 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. The stock has a 50 day moving average of $41.91 and a 200-day moving average of $47.11. NIKE, Inc. has a 52 week low of $38.17 and a 52 week high of $79.13. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Analysts predict that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.1%. NIKE’s dividend payout ratio (DPR) is currently 78.47%.

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).