NIKE, Inc. $NKE Shares Newly Purchased by StoneRidge PMG Advisors LLC

StoneRidge PMG Advisors LLC acquired a new position in shares of NIKE, Inc. (NYSE:NKE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 49,667 shares of the footwear maker’s stock, valued at approximately $1,758,000. NIKE makes up approximately 1.2% of StoneRidge PMG Advisors LLC’s investment portfolio, making the stock its 19th largest position.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its position in shares of NIKE by 6.8% during the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock valued at $2,636,104,000 after buying an additional 4,052,428 shares during the last quarter. Flossbach Von Storch SE bought a new stake in NIKE during the second quarter worth $488,714,000. Amundi grew its holdings in NIKE by 59.4% during the second quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock worth $265,199,000 after buying an additional 2,406,609 shares in the last quarter. Van ECK Associates Corp raised its position in NIKE by 4.8% in the 2nd quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker’s stock valued at $256,885,000 after buying an additional 286,395 shares during the last quarter. Finally, Swiss National Bank raised its position in NIKE by 7.3% in the 1st quarter. Swiss National Bank now owns 3,496,700 shares of the footwear maker’s stock valued at $184,696,000 after buying an additional 237,600 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Venkatesh Alagirisamy sold 3,671 shares of NIKE stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $137,992.89. Following the sale, the chief operating officer directly owned 104,862 shares in the company, valued at $3,941,762.58. The trade was a 3.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total transaction of $96,192.81. Following the completion of the transaction, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. This trade represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.10% of the company’s stock.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE shares gained 13.9% over the past month, with performance categories and North America showing traction. However, persistent China weakness and earnings pressure make the durability of the rebound uncertain. Read article
• Neutral Sentiment: RBC expects NIKE’s five-year financial targets to be broadly in line with consensus, suggesting its Capital Markets Day may clarify strategy without providing a major near-term catalyst for the stock. Read article
• Negative Sentiment: Analyst caution is weighing on sentiment: Truist downgraded NIKE to “sell” with a $29 target, while UBS maintained “neutral” and a $34 target, warning the recovery may lag valuation expectations. RBC also cut its target to $39 and kept a sector-perform rating. Read article
• Negative Sentiment: Reports point to shrinking Jordan and Dunk sales, with the CEO acknowledging a prior blind spot. A pullback in Jordan sneakers could also create an opening for competitors. Read article
• Negative Sentiment: NIKE’s fiscal 2027 outlook highlights potential sales and earnings pressure; planned $2.5 billion in cost savings could help longer term but may not offset near-term revenue risks. China remains a key concern, with sales there down 25% year over year in the latest reported quarter. Read article

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets restated an “underperform” rating on shares of NIKE in a research note on Thursday, October 22nd. Wells Fargo & Company set a $30.00 target price on shares of NIKE and gave the stock an “equal weight” rating in a research note on Friday, October 2nd. BNP Paribas Exane set a $19.00 target price on shares of NIKE and gave the stock an “underperform” rating in a research note on Friday, October 2nd. Williams Trading downgraded shares of NIKE from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Finally, Wolfe Research initiated coverage on shares of NIKE in a research report on Wednesday, October 21st. They set an “underperform” rating and a $28.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty have given a Hold rating and twelve have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $40.91.

NIKE Stock Performance

Shares of NKE opened at $38.61 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.39 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $57.35 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 4.51 and a beta of 1.01. The stock has a 50 day moving average of $36.91 and a 200 day moving average of $45.63. NIKE, Inc. has a 12 month low of $31.97 and a 12 month high of $69.14.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, October 1st. The footwear maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.05. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The business had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same period last year, the company posted $0.49 earnings per share. NIKE’s quarterly revenue was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 1.22 earnings per share for the current year.

NIKE Company Profile

NIKE, Inc designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories.

The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.

NIKE traces its roots to Blue Ribbon Sports, founded in 1964 by Phil Knight and Bill Bowerman.