First Manhattan CO. LLC. Sells 108,217 Shares of NIKE, Inc. $NKE

First Manhattan CO. LLC. decreased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 22.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,851 shares of the footwear maker’s stock after selling 108,217 shares during the period. First Manhattan CO. LLC.’s holdings in NIKE were worth $24,165,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NKE. J. Stern & Co. LLP raised its position in shares of NIKE by 49,010.4% in the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after acquiring an additional 47,956,692 shares in the last quarter. Norges Bank bought a new position in shares of NIKE in the 4th quarter worth approximately $829,956,000. Harris Associates L P bought a new position in shares of NIKE in the 2nd quarter worth approximately $621,525,000. Capital World Investors raised its position in shares of NIKE by 16.2% in the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock worth $3,126,246,000 after acquiring an additional 6,830,938 shares in the last quarter. Finally, Jasper Ridge Partners L.P. raised its position in shares of NIKE by 2,492.4% in the 4th quarter. Jasper Ridge Partners L.P. now owns 4,883,229 shares of the footwear maker’s stock worth $311,111,000 after acquiring an additional 4,694,859 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Sanford C. Bernstein reissued a “buy” rating on shares of NIKE in a research report on Monday, May 11th. Royal Bank Of Canada lowered NIKE from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $70.00 to $50.00 in a research report on Wednesday, June 10th. Wells Fargo & Company set a $45.00 target price on NIKE and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Jefferies Financial Group decreased their target price on NIKE from $110.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. Finally, Bank of America reissued a “neutral” rating and issued a $55.00 target price (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. Fifteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.89.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is entering the World Cup with a major global marketing push, including new football boots, federation shirts, and refreshed store displays, which could boost brand visibility and merchandise sales. Nike gets World Cup opportunity it can’t afford to waste
• Positive Sentiment: Reports of record Knicks championship merchandise sales suggest strong demand tied to major sports moments, reinforcing Nike’s ability to monetize high-profile events. Nike (NKE) Sees Record Knicks Merch Sales As The World Cup Begins
• Neutral Sentiment: Several recent articles frame NIKE as a fairly valued stock after a multi-year decline, suggesting investors may see the shares as pricing in a lot of bad news already. Nike (NKE) Stock Price Looks Fair After Multi‑Year Slide And DCF Check
• Neutral Sentiment: Analysts continue to compare Nike with stronger-performing footwear peers like Steven Madden, highlighting that Nike still faces turnaround pressure and relative growth concerns. NIKE vs. Steven Madden: Which Stock Has an Edge in the Footwear Space?
• Negative Sentiment: Nike is still viewed as struggling to regain momentum ahead of its June 30 earnings report, keeping attention on whether management can show a real improvement in the business. Nike Stock Struggling to Bounce Back Before Earnings

Insider Activity at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 4,000 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were acquired at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the purchase, the director owned 41,022 shares in the company, valued at approximately $1,777,893.48. This trade represents a 10.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy D. Cook bought 25,000 shares of NIKE stock in a transaction on Friday, April 10th. The stock was acquired at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. This represents a 23.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 64,441 shares of company stock worth $2,734,204 over the last quarter. 0.80% of the stock is currently owned by company insiders.

NIKE Stock Down 1.9%

NKE stock opened at $44.19 on Thursday. NIKE, Inc. has a twelve month low of $41.35 and a twelve month high of $80.17. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The firm has a market cap of $65.45 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The business has a 50 day moving average of $44.30 and a 200 day moving average of $54.99.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. During the same quarter last year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 1.49 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is 108.61%.

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).