Van ECK Associates Corp Raises Position in NIKE, Inc. $NKE

Van ECK Associates Corp increased its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,257,863 shares of the footwear maker’s stock after buying an additional 286,395 shares during the quarter. Van ECK Associates Corp owned 0.42% of NIKE worth $256,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Main Street Financial Solutions LLC boosted its stake in NIKE by 4.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after purchasing an additional 139 shares in the last quarter. ANB Bank increased its stake in NIKE by 0.7% during the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after purchasing an additional 165 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in NIKE by 4.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 3,970 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 169 shares in the last quarter. Activest Wealth Management raised its holdings in shares of NIKE by 27.4% in the fourth quarter. Activest Wealth Management now owns 810 shares of the footwear maker’s stock worth $52,000 after buying an additional 174 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC lifted its stake in shares of NIKE by 14.1% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 1,416 shares of the footwear maker’s stock worth $90,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Up 2.9%

Shares of NKE opened at $39.57 on Friday. NIKE, Inc. has a 52 week low of $38.17 and a 52 week high of $79.13. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $58.70 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.71 and a beta of 1.11. The stock’s 50-day moving average price is $41.91 and its 200-day moving average price is $47.11.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 1st. NIKE’s payout ratio is currently 78.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of NIKE in a report on Thursday, June 4th. Argus raised NIKE to a “strong-buy” rating in a research report on Wednesday, July 15th. Berenberg Bank set a $49.00 price target on NIKE and gave the company a “hold” rating in a research note on Friday, July 3rd. China Renaissance cut their price objective on NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Finally, Evercore set a $46.00 target price on NIKE and gave the stock an “in-line” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $52.94.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Traders purchased 182,729 NKE call options, 59% above typical daily call volume. The activity may reflect increased bullish speculation, although options positioning does not guarantee sustained buying in the shares.
• Positive Sentiment: Grupo SBF extended its exclusive Nike distribution agreement in Brazil through 2034. The longer arrangement provides continued access to an important Latin American market and supports Nike’s regional distribution network. Grupo SBF Extends Exclusive Nike Distribution Deal in Brazil to 2034
• Neutral Sentiment: NIKE said it will release fiscal first-quarter 2027 results on October 1 after the market close, followed by a management conference call. Investors will look for evidence that the company’s turnaround is improving sales, inventory levels and margins. NIKE Announces First Quarter Fiscal 2027 Earnings and Conference Call
• Neutral Sentiment: NIKE appointed Walmart veteran Jane Ewing as chief commercial officer to help lead its comeback. The hire could strengthen execution and retail strategy, but investors are likely to want measurable results before assigning significant value to the turnaround. Nike Taps Walmart Veteran to Help Drive Comeback
• Negative Sentiment: Reports say Nike’s China business continues to shrink as domestic competitors gain market share and the brand struggles to remain locally relevant. China weakness threatens a key source of long-term growth. Why America’s Biggest Brands Keep Losing in China
• Negative Sentiment: Analysts and market commentary continue to cite soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. These concerns reinforce expectations for a prolonged recovery and have contributed to reduced price targets and bearish sentiment.

Insider Activity

In related news, COO Venkatesh Alagirisamy sold 890 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $37,024.00. Following the sale, the chief operating officer directly owned 74,820 shares of the company’s stock, valued at approximately $3,112,512. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the firm’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 in the company, valued at approximately $2,415,183.80. This represents a 7.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 26,142 shares of company stock valued at $1,169,380. 1.10% of the stock is currently owned by company insiders.

NIKE 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).