NIKE, Inc. $NKE Stock Position Lowered by Wesbanco Bank Inc.

Wesbanco Bank Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 59.0% during the 1st quarter, HoldingsChannel reports. The firm owned 46,799 shares of the footwear maker’s stock after selling 67,469 shares during the quarter. Wesbanco Bank Inc.’s holdings in NIKE were worth $2,472,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NKE. Cornerstone Financial Management LLC acquired a new position in NIKE during the fourth quarter valued at $26,000. Sankala Group LLC acquired a new stake in NIKE during the 4th quarter worth about $26,000. J.Safra Asset Management Corp purchased a new position in NIKE during the 4th quarter valued at about $29,000. Kemnay Advisory Services Inc. purchased a new position in NIKE during the 4th quarter valued at about $30,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in NIKE during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In related news, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the transaction, the executive vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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, Director Timothy D. Cook bought 25,000 shares of NIKE stock in a transaction that occurred on Friday, April 10th. The stock was bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares in the company, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 64,441 shares of company stock valued at $2,734,204. Insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America reissued a “neutral” rating and issued a $55.00 price target (down from $73.00) on shares of NIKE in a research report on Wednesday, April 1st. CICC Research downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Stifel Nicolaus lowered their price target on shares of NIKE from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Friday. Truist Financial dropped their price target on shares of NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, Weiss Ratings lowered NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. Fourteen research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $59.01.

NIKE Price Performance

NYSE NKE opened at $40.76 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.14 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $60.36 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. NIKE, Inc. has a 12-month low of $40.00 and a 12-month high of $80.17. The company has a 50 day moving average price of $44.19 and a two-hundred day moving average price of $53.96.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, topping the consensus estimate of $0.29 by $0.06. The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 4.84% and a return on equity of 16.41%. NIKE’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 EPS. As a group, equities analysts predict that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, June 1st. NIKE’s dividend payout ratio (DPR) is 108.61%.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Oppenheimer lowered its price target to $60 but kept an outperform rating, signaling some analysts still see meaningful upside from current levels. Oppenheimer target update
• Positive Sentiment: Investors are also watching for any improvement from NIKE’s “Win Now” turnaround strategy and upcoming guidance, which could help support sentiment if management shows clearer progress. Nike fiscal Q4 preview
• Neutral Sentiment: NIKE is expected to report results after Tuesday’s close, and traders are bracing for a potentially large post-earnings move as attention centers on revenue trends, margins, and forward guidance. Investopedia earnings move preview
• Neutral Sentiment: Wall Street is closely focused on the new CFO transition, with investors waiting to see whether leadership changes help or hurt execution in the near term. Nike shares in focus as company names new CFO
• Negative Sentiment: KeyBanc turned more cautious, saying NIKE’s recovery is taking longer than expected amid slower turnaround progress and stronger competition from rivals. KeyBanc downgrade
• Negative Sentiment: Other coverage points to a “soft” quarter, with pressure from China weakness, tariffs, promotions, and operational uncertainty weighing on expectations ahead of earnings. Nike likely to report soft quarterly results
• Negative Sentiment: Stifel and Deutsche Bank also cut price targets, reinforcing a more cautious Street view before the report. Stifel target cut Deutsche Bank target cut

NIKE 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).