Quantitative Investment Management LLC Acquires New Stake in NIKE, Inc. $NKE

Quantitative Investment Management LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 59,915 shares of the footwear maker’s stock, valued at approximately $2,459,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new position in shares of NIKE during the first quarter valued at approximately $25,000. Cornerstone Financial Management LLC purchased a new stake in NIKE in the 4th quarter worth approximately $26,000. Sankala Group LLC purchased a new stake in NIKE in the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. raised its holdings in 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 acquiring an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp acquired a new position in NIKE in the 4th quarter valued at $29,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NKE. Argus upgraded NIKE to a “strong-buy” rating in a report on Wednesday, July 15th. Telsey Advisory Group set a $47.00 target price on NIKE and gave the company a “market perform” rating in a research note on Wednesday, July 1st. Truist Financial set a $42.00 target price on NIKE and gave the stock a “hold” rating in a research report on Wednesday. Wells Fargo & Company decreased their price target on NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 1st. Finally, The Goldman Sachs Group lowered their price target on NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. One investment 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, NIKE currently has an average rating of “Hold” and a consensus target price of $52.94.

Insider Buying and Selling at NIKE

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 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. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This represents a 24.67% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 26,142 shares of company stock worth $1,169,380. 1.10% of the stock is currently owned by insiders.

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.

NIKE Stock Performance

NIKE stock opened at $39.57 on Monday. The company has a market cap of $58.70 billion, a price-to-earnings ratio of 18.93, a price-to-earnings-growth ratio of 1.76 and a beta of 1.11. NIKE, Inc. has a 12 month low of $38.17 and a 12 month high of $79.13. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36. The stock’s 50-day moving average is $41.91 and its 200-day moving average is $47.01.

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

NIKE Announces Dividend

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

NIKE Company 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).