32,792 Shares in NIKE, Inc. $NKE Purchased by B.A. Schrock Wealth Management Inc.

B.A. Schrock Wealth Management Inc. bought a new position in shares of NIKE, Inc. (NYSE:NKE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 32,792 shares of the footwear maker’s stock, valued at approximately $1,153,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mitchell & Pahl Private Wealth LLC grew its stake in NIKE by 16.6% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 35,677 shares of the footwear maker’s stock worth $1,263,000 after purchasing an additional 5,075 shares in the last quarter. Sanders Morris Harris LLC acquired a new stake in NIKE in the 3rd quarter valued at about $2,869,000. First Citizens Bank & Trust Co. raised its position in NIKE by 89.3% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 34,697 shares of the footwear maker’s stock valued at $1,228,000 after purchasing an additional 16,368 shares in the last quarter. Roberts Wealth Advisors LLC raised its position in NIKE by 2.0% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 71,428 shares of the footwear maker’s stock valued at $2,529,000 after purchasing an additional 1,406 shares in the last quarter. Finally, KMG Fiduciary Partners LLC raised its position in NIKE by 29.1% in the 3rd quarter. KMG Fiduciary Partners LLC now owns 36,731 shares of the footwear maker’s stock valued at $1,300,000 after purchasing an additional 8,290 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Management is taking steps to improve Nike’s customer value proposition, which could support demand and help stabilize the brand over time. What’s Going on With Nike Stock?
• Neutral Sentiment: Despite its steep decline, Nike is being evaluated as a potential value investment. However, a sector comparison from Zacks reportedly favors Carter’s (CRI) as the more attractive value option, limiting the benefit of NKE’s lower share price. CRI vs. NKE: Which Stock Is the Better Value Option?
• Negative Sentiment: Nike’s latest fiscal-quarter revenue fell about 4% year over year, while Greater China revenue plunged 22%. The weaker top line is making it more difficult for the company to expand earnings. Nike Is Down 80% From Its High
• Negative Sentiment: Disappointing forward guidance has added to bearish sentiment, with investors concerned that the recovery may take longer and that conditions could worsen before improving. Why Is Everyone Talking About Nike Stock?
• Negative Sentiment: Bank of America downgraded Nike to Underperform, reversing its earlier view that the negative news was already reflected in the share price. The downgrade followed the disappointing fiscal first-quarter results and reinforces concerns about further downside. BofA Turns Bearish on Nike

NIKE Trading Down 0.1%

NKE opened at $35.30 on Thursday. NIKE, Inc. has a one year low of $31.97 and a one year high of $70.44. The company has a market cap of $52.42 billion, a P/E ratio of 22.65, a PEG ratio of 3.99 and a beta of 1.09. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 2.07. The business’s 50-day simple moving average is $37.66 and its 200-day simple moving average is $41.75.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.05. The business had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, equities research analysts expect that NIKE, Inc. will post 1.26 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were issued a $0.41 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.6%. NIKE’s dividend payout ratio is presently 78.85%.

Insider Activity at NIKE

In related news, EVP Philip McCartney sold 2,559 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the transaction, the executive vice president directly owned 78,121 shares of the company’s stock, valued at $2,936,568.39. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the 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 completion of the transaction, the insider directly owned 57,436 shares in the company, valued at $2,415,183.80. This trade represents a 7.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 14,974 shares of company stock worth $600,126. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on NKE shares. The Goldman Sachs Group reissued a “neutral” rating and set a $30.00 price objective (down from $38.00) on shares of NIKE in a research report on Friday, October 2nd. Zacks Research cut shares of NIKE from a “hold” rating to a “strong sell” rating in a report on Thursday, October 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $45.00 target price on shares of NIKE in a report on Friday, October 2nd. Robert W. Baird decreased their price target on shares of NIKE from $44.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of NIKE in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty-one have assigned a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat.com, NIKE presently has an average rating of “Reduce” and a consensus target price of $41.07.

NIKE Company Profile

NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.

The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.