NIKE, Inc. $NKE Shares Bought by Phoenix Financial Ltd.

Phoenix Financial Ltd. grew its stake in NIKE, Inc. (NYSE:NKE) by 10.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 214,409 shares of the footwear maker’s stock after purchasing an additional 21,016 shares during the quarter. Phoenix Financial Ltd.’s holdings in NIKE were worth $7,610,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of NKE. State Street Corp lifted its holdings in NIKE by 6.8% during the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after buying an additional 4,052,428 shares during the last quarter. Flossbach Von Storch SE acquired a new position in shares of NIKE in the 2nd quarter worth approximately $488,714,000. Amundi increased its holdings in shares of NIKE by 59.4% in the 2nd quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock valued at $265,199,000 after acquiring an additional 2,406,609 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of NIKE by 4.8% in the 2nd quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker’s stock valued at $256,885,000 after acquiring an additional 286,395 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of NIKE by 92.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,789,274 shares of the footwear maker’s stock valued at $169,540,000 after acquiring an additional 2,298,400 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE traded up $0.18 during trading hours on Friday, reaching $37.94. 12,177,696 shares of the company’s stock traded hands, compared to its average volume of 22,455,494. NIKE, Inc. has a twelve month low of $31.97 and a twelve month high of $69.14. The business’s fifty day simple moving average is $36.88 and its two-hundred day simple moving average is $44.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39. The firm has a market capitalization of $56.35 billion, a price-to-earnings ratio of 18.24, a P/E/G ratio of 4.33 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The firm had revenue of $11.21 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. Analysts predict that NIKE, Inc. will post 1.24 earnings per share for the current year.

Analyst Ratings Changes

NKE has been the subject of a number of research reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $30.00 price objective (down from $38.00) on shares of NIKE in a report on Friday, October 2nd. Piper Sandler reissued a “neutral” rating on shares of NIKE in a report on Friday. Morgan Stanley set a $27.00 price target on shares of NIKE and gave the stock an “underweight” rating in a research report on Friday, October 2nd. Bank of America reaffirmed an “underperform” rating and issued a $24.00 price target (down from $30.00) on shares of NIKE in a report on Friday, October 2nd. Finally, Wolfe Research started coverage on shares of NIKE in a research report on Wednesday, October 21st. They set an “underperform” rating and a $28.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have assigned a Hold rating and twelve have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $40.83.

Latest NIKE News

Here’s some of the latest news about NKE:

• Positive Sentiment: BTIG Research reaffirmed its “Buy” rating and set a $50 price target, about 31.8% above the cited $37.94 share price. The target signals confidence in potential recovery, though it is an analyst opinion rather than a company forecast. Read the report
• Neutral Sentiment: Cantor Fitzgerald began coverage of NIKE, but the supplied report details do not state its rating or price target. Read the report Analysts’ views are also described as mixed, without further specifics in the supplied summary. Read the article
• Negative Sentiment: Recent coverage says NIKE shares are down nearly 40% year to date amid sluggish demand, weakness in China and margin pressure. These concerns could limit the scope for a rebound unless operating trends improve. Read the article

Insiders Place Their Bets

In other NIKE news, EVP Philip McCartney sold 2,559 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $96,192.81. Following the sale, the executive vice president owned 78,121 shares in the company, valued at approximately $2,936,568.39. The trade was a 3.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the sale, the chief operating officer owned 104,862 shares of the company’s stock, valued at approximately $3,941,762.58. This trade represents a 3.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

NIKE Profile

NIKE, Inc. designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories. The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.