47,908 NIKE, Inc. $NKE Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its position in NIKE, Inc. (NYSE:NKE) by 74.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 16,557 shares of the footwear maker’s stock after selling 47,908 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in NIKE were worth $586,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. State Street Corp increased its holdings 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. Flossbach Von Storch SE purchased a new position in shares of NIKE in the second quarter worth about $488,714,000. Amundi lifted its holdings in shares of NIKE by 59.4% during the second quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock worth $265,199,000 after purchasing an additional 2,406,609 shares during the period. Van ECK Associates Corp lifted its holdings in shares of NIKE by 4.8% during the second quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker’s stock worth $256,885,000 after purchasing an additional 286,395 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of NIKE by 92.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,789,274 shares of the footwear maker’s stock worth $169,540,000 after purchasing an additional 2,298,400 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other NIKE news, COO Venkatesh Alagirisamy sold 3,671 shares of the 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 transaction, the chief operating officer owned 104,862 shares in the company, valued at approximately $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed 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 the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares in the company, valued at approximately $2,936,568.39. The trade was a 3.17% 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. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. HSBC cut their price target on shares of NIKE from $48.00 to $40.00 and set a “hold” rating on the stock in a report on Monday, September 28th. Wall Street Zen downgraded shares of NIKE from a “hold” rating to a “sell” rating in a report on Saturday, October 3rd. Guggenheim reaffirmed a “buy” rating and issued a $50.00 price objective on shares of NIKE in a report on Thursday, October 22nd. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of NIKE from $40.00 to $33.00 and set an “underweight” rating for the company in a report on Friday, October 2nd. One equities 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 issued a Sell rating to the stock. Based on data from MarketBeat, NIKE presently has a consensus rating of “Reduce” and an average target price of $40.83.

NIKE Stock Performance

Shares of NYSE NKE opened at $37.73 on Friday. The company has a market capitalization of $56.04 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 4.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 2.07. The company’s fifty day moving average price is $36.90 and its 200 day moving average price is $45.10. NIKE, Inc. has a 1 year low of $31.97 and a 1 year high of $69.14.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. The business had revenue of $11.21 billion during the quarter, compared to the consensus estimate of $11.32 billion. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, research analysts predict that NIKE, Inc. will post 1.24 earnings per share for the current year.

NIKE News Roundup

These are some of the NKE news items that stood out recently:

• 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?

NIKE 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.