Fifth Third Bancorp Sells 190,762 Shares of NIKE, Inc. $NKE

Fifth Third Bancorp lowered its stake in NIKE, Inc. (NYSE:NKE) by 24.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 587,884 shares of the footwear maker’s stock after selling 190,762 shares during the quarter. Fifth Third Bancorp’s holdings in NIKE were worth $20,811,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the company. FAS Wealth Partners Inc. raised its position in shares of NIKE by 4.2% during the 1st quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock valued at $323,000 after buying an additional 249 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of NIKE by 34.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 989 shares of the footwear maker’s stock valued at $41,000 after purchasing an additional 254 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of NIKE by 15.4% in the 3rd quarter. Salomon & Ludwin LLC now owns 2,019 shares of the footwear maker’s stock valued at $71,000 after purchasing an additional 269 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of NIKE by 8.4% in the 3rd quarter. Westside Investment Management Inc. now owns 3,484 shares of the footwear maker’s stock valued at $123,000 after purchasing an additional 270 shares in the last quarter. Finally, Elmwood Wealth Management Inc. grew its holdings in shares of NIKE by 2.7% during the 2nd quarter. Elmwood Wealth Management Inc. now owns 10,666 shares of the footwear maker’s stock valued at $438,000 after purchasing an additional 279 shares during the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NIKE stock opened at $37.94 on Friday. The firm has a market cap of $56.35 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 4.33 and a beta of 1.01. NIKE, Inc. has a 12-month low of $31.97 and a 12-month high of $69.14. 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 company’s fifty day simple moving average is $36.88 and its two-hundred day simple moving average is $44.97.

NIKE (NYSE:NKE) last issued its quarterly earnings data 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 firm 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 quarterly revenue was down 4.3% compared to the same quarter last year. During the same period 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. As a group, equities analysts expect that NIKE, Inc. will post 1.24 EPS for the current year.

Insider Transactions at NIKE

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the business’s stock in a transaction dated 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 $3,941,762.58. The trade was a 3.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of the company’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 transaction, the executive vice president directly owned 78,121 shares of the company’s stock, valued at $2,936,568.39. The trade was a 3.17% decrease in their position. 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.

Analyst Ratings Changes

A number of brokerages recently commented on NKE. Zacks Research cut shares of NIKE from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $45.00 price objective on shares of NIKE in a research note on Friday, October 2nd. 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. UBS Group reiterated a “neutral” rating on shares of NIKE in a report on Thursday, October 22nd. Finally, Piper Sandler reissued a “neutral” rating on shares of NIKE in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have assigned a Hold rating and twelve have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $40.83.

Trending Headlines about NIKE

These are some of the NKE headlines that stood out recently:

• Positive Sentiment: BTIG Research reaffirmed its “Buy” rating and set a $50 price target, about 31.8% above the cited $37.94 share price. The target signals confidence in potential recovery, though it is an analyst opinion rather than a company forecast. Read the report
• Neutral Sentiment: Cantor Fitzgerald began coverage of NIKE, but the supplied report details do not state its rating or price target. Read the report Analysts’ views are also described as mixed, without further specifics in the supplied summary. Read the article
• Neutral Sentiment: Trefis published an article focused on NIKE’s “biggest opportunity,” but the supplied information does not describe the opportunity or its potential financial impact. Read the article

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.