NIKE, Inc. (NYSE:NKE – Get Free Report) shares rose 3.3% during mid-day trading on Thursday. The company traded as high as $38.66 and last traded at $38.3660. Approximately 21,487,525 shares were traded during mid-day trading, a decline of 13% from the average session volume of 24,673,008 shares. The stock had previously closed at $37.15.
NIKE News Summary
Here are the key news stories impacting NIKE this week:
- Positive Sentiment: Bernstein maintained its Buy rating, providing support for the stock despite near-term operating challenges. Bernstein Sticks to Its Buy Rating for Nike
- Positive Sentiment: Nike introduced the Vegam Run running shoe in India, seeking to benefit from the country’s growing running market and create a new growth engine as sales weaken in China. Nike deepens India push with new running shoe
- Neutral Sentiment: Recent investor commentary highlights Nike’s low valuation and dividend yield, but investors are increasingly focused on whether leadership, product and geographic changes can restore long-term cash-flow growth. Nike Stock May Trade At A Discount On Investor Day
- Negative Sentiment: Analysts and investors continue to expect a prolonged turnaround, prompting some portfolio realignment and limiting enthusiasm for the shares. Nike Prolonged Turnaround Timelines Prompt Portfolio Realignment
- Negative Sentiment: Nike’s latest update showed ongoing revenue pressure, including weakness in China, while its broader innovation and brand-recovery efforts are competing with Adidas’s stronger sales, digital growth and profitability trends. NIKE vs. adidas: Which Stock Offers Stronger Growth Potential?
- Negative Sentiment: The consensus price target was reportedly reduced by roughly 35%, reflecting lower expectations for Nike’s earnings recovery. Nike consensus price target decreased
Analyst Ratings Changes
A number of research firms have recently weighed in on NKE. CICC Research decreased their price target on shares of NIKE from $58.00 to $44.80 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. Argus raised shares of NIKE to a “strong-buy” rating in a report on Wednesday, July 15th. Stifel Nicolaus reduced their price objective on shares of NIKE from $40.00 to $36.00 and set a “hold” rating on the stock in a research note on Friday, October 2nd. UBS Group reissued a “neutral” rating on shares of NIKE in a report on Thursday, October 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of NIKE in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have issued a Hold rating and eleven have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $40.93.
View Our Latest Stock Report on NKE
NIKE Trading Up 3.3%
The firm has a market cap of $56.99 billion, a P/E ratio of 18.45, a P/E/G ratio of 4.37 and a beta of 1.09. The business’s 50-day moving average is $37.02 and its two-hundred day moving average is $46.54. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39.
NIKE (NYSE:NKE – Get Free Report) last posted its earnings results 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 company had revenue of $11.21 billion during the quarter, compared to analyst estimates of $11.32 billion. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.49 earnings per share. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, analysts expect that NIKE, Inc. will post 1.22 earnings per share for the current fiscal year.
NIKE Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Tuesday, September 1st. NIKE’s payout ratio is presently 78.85%.
Insider Buying and Selling
In related news, insider Amy Montagne sold 4,867 shares of the business’s stock in a transaction that occurred 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 transaction, the insider directly owned 57,436 shares of the company’s stock, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the transaction, the chief financial officer owned 82,165 shares in the company, valued at approximately $3,418,064. This represents a 2.91% 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. Insiders have sold a total of 14,974 shares of company stock worth $600,126 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On NIKE
Several large investors have recently made changes to their positions in NKE. Scarborough Advisors LLC bought a new position in shares of NIKE during the 1st quarter valued at $25,000. Reyes Financial Architecture Inc. acquired a new stake in shares of NIKE in the 3rd quarter valued at $26,000. Meeder Asset Management Inc. lifted its stake in shares of NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Atlas Wealth LLC bought a new stake in NIKE in the first quarter worth $31,000. Finally, University of Texas Texas AM Investment Management Co. bought a new stake in NIKE in the second quarter worth $33,000. Institutional investors own 64.25% of the company’s stock.
NIKE Company Profile
NIKE, Inc is a global athletic footwear, apparel, equipment and accessories company headquartered near Beaverton, Oregon. The company designs, develops, markets and sells products under the Nike, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.
NIKE’s product portfolio includes athletic and casual footwear, performance and lifestyle apparel, sports equipment, accessories and digital fitness-related offerings. The company distributes its products through company-owned retail stores, digital platforms and wholesale partners, while also operating direct-to-consumer and membership programs.
The company traces its origins to 1964, when Phil Knight and Bill Bowerman founded Blue Ribbon Sports.
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