Washington Trust Advisors Inc. Lowers Position in NIKE, Inc. $NKE

Washington Trust Advisors Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 49.4% in the second quarter, HoldingsChannel.com reports. The fund owned 59,965 shares of the footwear maker’s stock after selling 58,514 shares during the period. Washington Trust Advisors Inc.’s holdings in NIKE were worth $2,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its position in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Caxton Associates LLP bought a new position in shares of NIKE in the 1st quarter worth $311,000. United Bank raised its position in shares of NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of 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 buying an additional 197 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in shares of NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after acquiring an additional 11,646 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.0%

Shares of NYSE:NKE opened at $38.39 on Monday. The stock has a market capitalization of $56.95 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.88 and a beta of 1.10. The stock’s 50-day moving average price is $41.58 and its 200-day moving average price is $46.16. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE, Inc. has a 12-month low of $37.95 and a 12-month high of $76.97.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.14 EPS. On average, equities analysts anticipate that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.41 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 annualized dividend and a yield of 4.3%. NIKE’s payout ratio is presently 78.47%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NKE shares. The Goldman Sachs Group cut their target price on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Rothschild & Co Redburn cut their price objective on NIKE from $45.00 to $37.00 and set a “sell” rating for the company in a report on Friday, July 17th. Berenberg Bank set a $49.00 price objective on NIKE and gave the company a “hold” rating in a research report on Friday, July 3rd. Jefferies Financial Group reissued a “buy” rating on shares of NIKE in a report on Tuesday, August 25th. Finally, DZ Bank restated a “buy” rating on shares of NIKE in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, twenty have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Hold” and a consensus price target of $52.94.

Insider Buying and Selling

In related news, CFO Matthew Friend sold 2,463 shares of NIKE stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $102,460.80. Following the transaction, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at $3,418,064. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $42.05, for a total transaction of $204,657.35. Following the sale, the insider owned 57,436 shares of the company’s stock, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 26,142 shares of company stock worth $1,169,380. Company insiders own 1.10% of the company’s stock.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Analysts are bullish on Nike among selected consumer-cyclical companies, supporting the view that the stock’s depressed valuation could offer upside if the company executes its turnaround. Analysts Are Bullish on These Consumer Cyclical Stocks: Nike (NKE), Ferrari (RACE)
• Positive Sentiment: Nike is expanding its Strength Pro Equipment business with customizable Power Rack systems installed at prominent athletic facilities, including U.S. Soccer, USC and professional women’s sports venues. The initiative could deepen institutional relationships and create a broader growth opportunity beyond footwear and apparel. Nike’s Custom Power Racks Might Change The Case For Investing In NIKE (NKE)
• Neutral Sentiment: Some investment coverage describes Nike as potentially undervalued after its steep decline, while emphasizing that the opportunity depends on stabilizing margins and successfully improving the business. Recent earnings also showed an EPS beat and slightly stronger-than-expected revenue, although sales declined year over year. Down almost 80%, is Nike stock undervalued or a value trap?
• Neutral Sentiment: Broader market conditions could affect NKE: investors are focused on the August employment report because it may influence the Federal Reserve’s interest-rate decision later this month. Apparel and luxury-goods stock screens also continue to identify Nike as a company worth watching. 5 Things to Know Before the Stock Market Opens on Friday
• Negative Sentiment: Bearish commentary says Nike faces a difficult turnaround and that its current valuation may provide limited margin of safety, raising the risk that the stock is a value trap if profitability and demand do not recover. Nike: A Difficult Turnaround At A Price That Offers Little Margin of Safety
• Negative Sentiment: Nike is reportedly closing 11 U.S. stores, signaling continued efforts to rationalize its retail footprint and potentially reflecting weaker store economics or changing shopping patterns. Nike closes 11 stores across the US

About NIKE

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).