Empowered Funds LLC Increases Position in NIKE, Inc. $NKE

Empowered Funds LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 82.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 191,312 shares of the footwear maker’s stock after acquiring an additional 86,352 shares during the quarter. Empowered Funds LLC’s holdings in NIKE were worth $7,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NKE. Scarborough Advisors LLC acquired a new position in shares of NIKE in the 1st quarter valued at approximately $25,000. Cornerstone Financial Management LLC acquired a new stake in shares of NIKE during the fourth quarter worth approximately $26,000. Sankala Group LLC acquired a new stake in shares of NIKE during the fourth quarter worth approximately $26,000. Meeder Asset Management Inc. increased its stake in shares of NIKE by 108.4% in the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after buying an additional 285 shares during the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in shares of NIKE in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Zacks Research raised shares of NIKE from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 19th. Evercore set a $46.00 price objective on shares of NIKE and gave the stock an “in-line” rating in a report on Tuesday, June 23rd. Weiss Ratings upgraded shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, July 17th. The Goldman Sachs Group cut their target price on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Finally, Rothschild & Co Redburn reduced their price target on shares of NIKE from $45.00 to $37.00 and set a “sell” rating on the stock in a research 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the company 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 the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the sale, the chief financial officer owned 82,165 shares in the company, valued at $3,418,064. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the transaction, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last 90 days, insiders sold 26,142 shares of company stock valued at $1,169,380. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

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

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

NIKE Announces Dividend

The firm also recently declared 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

More NIKE News

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.

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).