RFG Advisory LLC Cuts Stock Holdings in NIKE, Inc. $NKE

RFG Advisory LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 53.8% in the first quarter, Holdings Channel.com reports. The fund owned 20,346 shares of the footwear maker’s stock after selling 23,684 shares during the quarter. RFG Advisory LLC’s holdings in NIKE were worth $1,075,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in NKE. Brighton Jones LLC grew its holdings in shares of NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after buying an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new position in NIKE during the first quarter worth about $311,000. United Bank boosted its position in NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after acquiring an additional 1,736 shares during the last quarter. NewEdge Advisors LLC grew its stake in NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock valued at $4,558,000 after acquiring an additional 197 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock valued at $13,588,000 after acquiring an additional 11,646 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Oppenheimer lowered its price target to $60 but kept an outperform rating, signaling some analysts still see meaningful upside from current levels. Oppenheimer target update
• Positive Sentiment: Investors are also watching for any improvement from NIKE’s “Win Now” turnaround strategy and upcoming guidance, which could help support sentiment if management shows clearer progress. Nike fiscal Q4 preview
• Neutral Sentiment: NIKE is expected to report results after Tuesday’s close, and traders are bracing for a potentially large post-earnings move as attention centers on revenue trends, margins, and forward guidance. Investopedia earnings move preview
• Neutral Sentiment: Wall Street is closely focused on the new CFO transition, with investors waiting to see whether leadership changes help or hurt execution in the near term. Nike shares in focus as company names new CFO
• Negative Sentiment: KeyBanc turned more cautious, saying NIKE’s recovery is taking longer than expected amid slower turnaround progress and stronger competition from rivals. KeyBanc downgrade
• Negative Sentiment: Other coverage points to a “soft” quarter, with pressure from China weakness, tariffs, promotions, and operational uncertainty weighing on expectations ahead of earnings. Nike likely to report soft quarterly results
• Negative Sentiment: Stifel and Deutsche Bank also cut price targets, reinforcing a more cautious Street view before the report. Stifel target cut Deutsche Bank target cut

NIKE Price Performance

Shares of NKE stock opened at $40.76 on Monday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The firm’s 50-day moving average is $44.19 and its two-hundred day moving average is $53.89. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The company has a market capitalization of $60.36 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period in the previous year, the business posted $0.54 EPS. NIKE’s revenue was up .1% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s dividend payout ratio is currently 108.61%.

Analysts Set New Price Targets

A number of research firms have commented on NKE. Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a report on Thursday, June 4th. China Renaissance dropped their price target on NIKE from $74.60 to $50.30 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Truist Financial dropped their price target on NIKE from $69.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. CICC Research downgraded NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Finally, Bank of America reiterated a “neutral” rating and set a $55.00 price objective (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $59.01.

Insider Transactions at NIKE

In other NIKE news, Director Timothy D. Cook acquired 25,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average cost of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the transaction, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert Holmes Swan bought 11,781 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were acquired at an average cost of $42.44 per share, with a total value of $499,985.64. Following the purchase, the director owned 55,074 shares of the company’s stock, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 64,441 shares of company stock valued at $2,734,204 in the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

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).