Murphy Pohlad Asset Management LLC Buys Shares of 47,635 NIKE, Inc. $NKE

Murphy Pohlad Asset Management LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) in the 2nd quarter, Holdings Channel reports. The firm purchased 47,635 shares of the footwear maker’s stock, valued at approximately $1,955,000.

A number of other institutional investors have also made changes to their positions in NKE. California State Teachers Retirement System boosted its position in NIKE by 4,052.9% during the second quarter. California State Teachers Retirement System now owns 75,611,801 shares of the footwear maker’s stock valued at $3,103,864,000 after purchasing an additional 73,791,103 shares during the last quarter. J. Stern & Co. LLP raised its stake in shares of NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares in the last quarter. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $829,956,000. Flossbach Von Storch SE bought a new position in shares of NIKE in the second quarter valued at $488,714,000. Finally, Harris Associates L P acquired a new position in NIKE during the second quarter worth $621,525,000. 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: Some analysts see significant turnaround potential. One bullish Wall Street view suggests the stock could nearly double from current levels, while the median analyst price target is approximately $47.50. Nike Is In Free Fall: This Wall Street Ratings Agency Says It’s Doubling Soon
• Positive Sentiment: Early signs of improvement in China’s running, football and premium-retail businesses, along with continued running-category growth and new product launches, offer a potential longer-term recovery path. NIKE’s China Business: Recovery Story or Ongoing Challenge?
• Positive Sentiment: Recent insider activity includes purchases by CEO Elliott Hill and other executives, which may signal confidence that the depressed valuation offers long-term value. Dividend-focused investors may also view the stock’s income stream as a source of support.
• Neutral Sentiment: Shareholders rejected a Norway-backed proposal seeking greater disclosure of how NIKE plans to meet its emissions-reduction targets. The vote removes an immediate governance request but could keep sustainability scrutiny on the company. Nike shareholders reject climate proposal backed by Norway wealth fund
• Negative Sentiment: NIKE will leave the S&P 100 on September 21 after nearly 18 years. The change underscores the company’s sharply reduced market value and may create additional selling pressure from index-related funds. Nike to lose S&P 100 place as stock sinks to 12-year low
• Negative Sentiment: Sportswear weakness, inventory cleanup and persistent pressure in China and EMEA continue to weigh on sales. Recent quarterly revenue declined year over year, while elevated prices and competition from brands and retailers such as Lululemon and Dick’s are hurting consumer momentum. NIKE Near 52-Week Low: Should Investors Buy or Stay Cautious?
• Negative Sentiment: Political and cultural criticism of NIKE’s policies, including a campaign concerning gender-transition surgeries for minors, creates potential reputational and demand risks, although the direct financial impact is uncertain. Former college soccer player takes on Nike over gender-transition surgeries for minors

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Bank of America decreased their price objective on shares of NIKE from $55.00 to $47.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Guggenheim reiterated a “buy” rating and set a $60.00 target price (down from $74.00) on shares of NIKE in a research note on Wednesday, July 1st. Stifel Nicolaus set a $45.00 target price on shares of NIKE and gave the stock a “hold” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. reissued a “sell” rating on shares of NIKE in a report on Monday, August 31st. Finally, Robert W. Baird restated an “outperform” rating and set a $70.00 price objective on shares of NIKE in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.29.

Insider Buying and Selling

In other NIKE news, COO Venkatesh Alagirisamy sold 890 shares of the business’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $37,024.00. Following the completion of the sale, the chief operating officer directly owned 74,820 shares of the company’s stock, valued at approximately $3,112,512. The trade was a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amy Montagne sold 4,867 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $42.05, for a total value of $204,657.35. Following the completion of the transaction, the insider owned 57,436 shares in the company, valued at $2,415,183.80. This represents a 7.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,142 shares of company stock worth $1,169,380 over the last 90 days. Company insiders own 1.10% of the company’s stock.

NIKE Trading Down 0.9%

Shares of NIKE stock traded down $0.36 during midday trading on Tuesday, reaching $38.04. The company had a trading volume of 31,589,068 shares, compared to its average volume of 21,833,607. The stock has a fifty day moving average price of $41.46 and a 200 day moving average price of $45.78. NIKE, Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $76.97. The firm has a market cap of $56.43 billion, a PE ratio of 18.20, a P/E/G ratio of 1.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $10.85 billion. During the same quarter in the previous year, the business posted $0.14 EPS. NIKE’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, 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 issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is currently 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).