WINTON GROUP Ltd Boosts Holdings in NIKE, Inc. $NKE

WINTON GROUP Ltd increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 63.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,923 shares of the footwear maker’s stock after acquiring an additional 16,978 shares during the quarter. WINTON GROUP Ltd’s holdings in NIKE were worth $1,803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in NIKE in the first quarter valued at $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the fourth quarter worth about $26,000. Sankala Group LLC purchased a new stake in shares of NIKE in the 4th quarter valued at about $26,000. Meeder Asset Management Inc. lifted its holdings 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. Finally, J.Safra Asset Management Corp acquired a new stake in shares of NIKE in the 4th quarter valued at about $29,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Amy Montagne sold 4,867 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the transaction, the chief operating officer directly owned 104,862 shares of the company’s stock, valued at $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 90 days. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 0.5%

NIKE stock opened at $36.81 on Friday. The stock has a 50 day moving average of $41.04 and a two-hundred day moving average of $45.32. NIKE, Inc. has a twelve month low of $36.55 and a twelve month high of $76.97. The stock has a market capitalization of $54.62 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 1.79 and a beta of 1.10. 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 (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same quarter in the prior year, the business earned $0.14 earnings per share. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. As a group, research analysts expect that NIKE, Inc. will post 1.74 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s payout ratio is currently 78.47%.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some analysts argue that NIKE’s core business remains viable despite weak sentiment. The depressed valuation and approximately 4.5% dividend yield could attract long-term investors if management can successfully restore growth. Nike Is Now Down 40% This Year
• Neutral Sentiment: NIKE shareholders approved an expanded employee stock purchase plan. The measure may help employee retention, although potential additional share issuance could dilute existing shareholders. Nike Shareholders Approve Expanded Employee Stock Purchase Plan
• Neutral Sentiment: NIKE’s latest quarterly results exceeded earnings and revenue expectations, but sales still declined year over year. Analysts currently expect about $1.74 in earnings per share for the full year, leaving the valuation dependent on a meaningful operational recovery.
• Negative Sentiment: Morgan Stanley warned that the selloff may continue, citing persistent operating weakness and disappointing performance. NIKE’s imminent removal from the S&P 100 may also reduce index-related demand and reinforce negative sentiment. Morgan Stanley Says the Pain May Not Be Over Yet
• Negative Sentiment: BMO Capital Markets issued a strongly bearish “Underperform”/“Strong Sell” view, adding to a series of negative Wall Street calls. Analysts continue to cite intense competition, shifting consumer preferences and broad product-market challenges. Nike Gains Another Bearish Call
• Negative Sentiment: Two senior executives sold shares worth approximately $234,000 combined under pre-arranged Rule 10b5-1 plans. The sales were relatively small and scheduled in advance, but they add to near-term caution among investors. NIKE Insider Selling

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NKE. CICC Research dropped their price target on NIKE from $58.00 to $44.80 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on NIKE from $43.00 to $45.00 and gave the company a “hold” rating in a report on Friday, July 17th. Bank of America lowered their target price on shares of NIKE from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 1st. Rothschild & Co Redburn cut their target price on shares of NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. reiterated a “sell” rating on shares of NIKE in a research report on Monday, August 31st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.12.

NIKE Company Profile

NIKE, Inc is a global athletic footwear, apparel and equipment company headquartered near Beaverton, Oregon. The company designs, develops and markets products under the NIKE, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s offerings include athletic and casual footwear, sportswear, apparel, accessories and athletic equipment. The company distributes its products through company-owned retail stores, digital platforms, wholesale partners and independent distributors.