NIKE, Inc. $NKE Shares Acquired by Saudi Central Bank

Saudi Central Bank grew its stake in NIKE, Inc. (NYSE:NKE) by 90.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 83,965 shares of the footwear maker’s stock after buying an additional 39,986 shares during the period. Saudi Central Bank’s holdings in NIKE were worth $3,447,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Brighton Jones LLC increased its holdings in shares of NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Caxton Associates LLP purchased a new stake in NIKE in the first quarter valued at approximately $311,000. United Bank boosted its position in NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock valued at $1,212,000 after buying an additional 1,736 shares during the last quarter. NewEdge Advisors LLC increased its holdings in NIKE by 0.3% in the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after buying an additional 197 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in NIKE by 6.5% in the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after buying an additional 11,646 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Analysts are bullish on Nike among selected consumer-cyclical companies, supporting the view that the stock’s depressed valuation could offer upside if the company executes its turnaround. Analysts Are Bullish on These Consumer Cyclical Stocks: Nike (NKE), Ferrari (RACE)
• Positive Sentiment: Nike is expanding its Strength Pro Equipment business with customizable Power Rack systems installed at prominent athletic facilities, including U.S. Soccer, USC and professional women’s sports venues. The initiative could deepen institutional relationships and create a broader growth opportunity beyond footwear and apparel. Nike’s Custom Power Racks Might Change The Case For Investing In NIKE (NKE)
• Neutral Sentiment: Some investment coverage describes Nike as potentially undervalued after its steep decline, while emphasizing that the opportunity depends on stabilizing margins and successfully improving the business. Recent earnings also showed an EPS beat and slightly stronger-than-expected revenue, although sales declined year over year. Down almost 80%, is Nike stock undervalued or a value trap?
• Neutral Sentiment: Broader market conditions could affect NKE: investors are focused on the August employment report because it may influence the Federal Reserve’s interest-rate decision later this month. Apparel and luxury-goods stock screens also continue to identify Nike as a company worth watching. 5 Things to Know Before the Stock Market Opens on Friday
• Negative Sentiment: Bearish commentary says Nike faces a difficult turnaround and that its current valuation may provide limited margin of safety, raising the risk that the stock is a value trap if profitability and demand do not recover. Nike: A Difficult Turnaround At A Price That Offers Little Margin of Safety
• Negative Sentiment: Nike is reportedly closing 11 U.S. stores, signaling continued efforts to rationalize its retail footprint and potentially reflecting weaker store economics or changing shopping patterns. Nike closes 11 stores across the US

Insiders Place Their Bets

In related news, EVP Philip McCartney sold 17,398 shares of NIKE 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 sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. This trade represents a 24.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Also, insider Amy Montagne sold 4,867 shares of the company’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the transaction, the insider owned 57,436 shares of the company’s stock, valued at $2,415,183.80. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,142 shares of company stock valued at $1,169,380 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on NKE shares. Jefferies Financial Group reaffirmed a “buy” rating on shares of NIKE in a report on Tuesday, August 25th. The Goldman Sachs Group decreased their target price on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $70.00 price target on shares of NIKE in a research report on Wednesday, July 1st. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Finally, Rothschild & Co Redburn dropped their target price on NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.94.

NIKE Trading Down 0.0%

Shares of NIKE stock opened at $38.39 on Monday. The firm has a 50-day simple moving average of $41.58 and a two-hundred day simple moving average of $46.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE, Inc. has a fifty-two week low of $37.95 and a fifty-two week high of $76.97. The company has a market cap of $56.95 billion, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.88 and a beta of 1.10.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion for 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 quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.14 EPS. As a group, equities analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

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 is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.3%. NIKE’s payout ratio is 78.47%.

About NIKE

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).