NIKE, Inc. $NKE Stock: Rakuten Investment Management Inc. Raises Stake

Rakuten Investment Management Inc. grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 10.1% in the third quarter, HoldingsChannel.com reports. The fund owned 217,296 shares of the footwear maker’s stock after purchasing an additional 19,941 shares during the period. Rakuten Investment Management Inc.’s holdings in NIKE were worth $7,788,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Provenance Wealth Advisors LLC purchased a new stake in shares of NIKE during the 3rd quarter valued at $575,000. Associated Banc Corp bought a new stake in shares of NIKE during the 3rd quarter worth $308,000. Integrity Advisory Solutions LLC lifted its holdings in shares of NIKE by 4.3% during the 3rd quarter. Integrity Advisory Solutions LLC now owns 9,180 shares of the footwear maker’s stock worth $325,000 after acquiring an additional 381 shares during the last quarter. IPG Investment Advisors LLC bought a new stake in shares of NIKE during the 3rd quarter worth $214,000. Finally, Gerber Kawasaki Wealth & Investment Management grew its position in NIKE by 13.5% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 6,640 shares of the footwear maker’s stock worth $235,000 after acquiring an additional 788 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Nike’s product reset is focused on performance innovation and fresh launches, while tighter control of Jordan releases and digital distribution may help protect full-price sales. Will Product Reset Change Nike’s Narrative
• Positive Sentiment: Some coverage sees evidence of progress: gross margin expanded despite falling sales, and Nike recently beat quarterly EPS estimates. Nike vs. Lululemon
• Neutral Sentiment: Nike’s first fully electric container barge in Vietnam supports its sustainability efforts, but the report does not indicate a near-term financial impact. Nike Put Vietnam’s First Fully Electric Container Barge Into Service
• Negative Sentiment: CEO commentary about a “blind spot” comes as Jordan and Dunk sales shrink, raising concern that Nike has misjudged shifts in demand for major franchises. Nike CEO admits blind spot as Jordan and Dunk sales shrink
• Negative Sentiment: Truist downgraded NKE to Sell and set a $29 target, citing risks across the business and valuation. That contrasts with more optimistic views and adds pressure after the stock’s recent rally. NKE Downgraded To Sell At Truist
• Negative Sentiment: The turnaround still faces weak demand: one report says sales in China fell 25% year over year and Nike expects sales to decline this year. Is Now a Good Time to Buy Nike Stock?

NIKE Trading Down 2.2%

Shares of NKE opened at $39.59 on Friday. NIKE, Inc. has a fifty-two week low of $31.97 and a fifty-two week high of $69.14. The firm has a market cap of $58.80 billion, a price-to-earnings ratio of 19.03, a PEG ratio of 4.73 and a beta of 1.01. The firm has a 50 day moving average price of $36.90 and a 200-day moving average price of $45.76. 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 released its earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, beating the consensus estimate of $0.43 by $0.05. The company had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 1.22 earnings per share for the current year.

Insider Buying and Selling at NIKE

In other news, COO Venkatesh Alagirisamy sold 3,671 shares of NIKE stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $137,992.89. Following the transaction, the chief operating officer owned 104,862 shares in the company, valued at approximately $3,941,762.58. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 dated Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of the transaction, the executive vice president owned 78,121 shares in the company, 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. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of research analyst reports. HSBC reduced their target price on NIKE from $48.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday, September 28th. Jefferies Financial Group set a $60.00 price target on NIKE in a research report on Friday, October 2nd. Royal Bank Of Canada dropped their price target on NIKE from $45.00 to $40.00 and set a “sector perform” rating for the company in a research note on Tuesday, September 29th. Telsey Advisory Group set a $35.00 price objective on NIKE and gave the stock a “market perform” rating in a report on Friday, October 2nd. Finally, Truist Financial lowered NIKE from a “hold” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty have issued a Hold rating and twelve have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $40.93.

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.