Temasek Holdings Private Ltd Sells 717,385 Shares of NIKE, Inc. $NKE

Temasek Holdings Private Ltd reduced its position in NIKE, Inc. (NYSE:NKE) by 60.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 471,984 shares of the footwear maker’s stock after selling 717,385 shares during the period. Temasek Holdings Private Ltd’s holdings in NIKE were worth $24,930,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NKE. Oslo Pensjonsforsikring AS purchased a new position in shares of NIKE in the 1st quarter worth approximately $123,000. Andra AP fonden increased its position in shares of NIKE by 1,731.4% during the first quarter. Andra AP fonden now owns 234,417 shares of the footwear maker’s stock worth $12,382,000 after purchasing an additional 221,617 shares in the last quarter. Glenview Trust Co lifted its holdings in shares of NIKE by 7.6% during the 1st quarter. Glenview Trust Co now owns 164,075 shares of the footwear maker’s stock valued at $8,666,000 after purchasing an additional 11,655 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. boosted its position in shares of NIKE by 4.2% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 324,568 shares of the footwear maker’s stock worth $17,144,000 after purchasing an additional 13,072 shares in the last quarter. Finally, AlTi Global Inc. boosted its position in shares of NIKE by 445.0% in the 1st quarter. AlTi Global Inc. now owns 34,024 shares of the footwear maker’s stock worth $1,797,000 after purchasing an additional 27,781 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Activity

In other news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the transaction, the executive vice president owned 53,133 shares of the company’s stock, valued at $2,453,681.94. The trade was a 24.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of NIKE in a research report on Thursday, June 4th. HSBC downgraded NIKE from a “buy” rating to a “hold” rating and lowered their price target for the stock from $90.00 to $48.00 in a report on Monday, April 13th. Sanford C. Bernstein restated a “buy” rating on shares of NIKE in a report on Monday, July 13th. The Goldman Sachs Group decreased their price objective on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, July 1st. Finally, China Renaissance lowered their target price on shares of NIKE from $50.30 to $47.30 and set a “hold” rating for the company in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nineteen have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $53.86.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is restructuring its China e-commerce strategy by steering shoppers to official channels and cutting off thousands of third-party online distributors, a move that could improve brand control, reduce marketplace clutter, and support margins. Nike to cut off thousands of online distributors in China, restructure digital footprint
• Positive Sentiment: The company’s focus on new performance products, advanced technologies, and its “Sport Offense” strategy could help reignite demand over time if the innovation pipeline converts into stronger sales. NIKE’s Innovation Pipeline: Can New Products Spark Demand?
• Neutral Sentiment: Analyst commentary and market-activity coverage suggest investors are closely monitoring NIKE’s turnaround story, but these items do not appear to add a major new catalyst on their own. SA analyst upgrades/downgrades: NKE, DDOG, BIDU, INTC
• Neutral Sentiment: Commentary on NIKE’s broader brand reset, retail growth strategy, and stock activity reflects ongoing debate about the turnaround, but these headlines are more diagnostic than immediately actionable. Nike (NYSE:NKE) Faces A Crucial Brand Reset
• Neutral Sentiment: Coverage noting NIKE’s miss on World Cup final exposure and LeBron James’ criticism underscores brand relevance concerns, but the effect is longer-term and harder to quantify immediately. Nike Misses World Cup Final as Adidas Gains Merchandise Opportunity
• Negative Sentiment: Ongoing concerns about weak consumer demand, heavy discounting in key Sportswear and Jordan lines, and questions about cultural relevance continue to weigh on sentiment for NIKE. The Bull Case For NIKE (NKE) Could Change Following Missed World Cup Moment And Brand Relevance Questions
• Negative Sentiment: LeBron James’ comments that NIKE needs to reconnect with local communities and consumers reinforce the view that the brand still has a turnaround problem to solve. LeBron James exposes Nike’s hidden turnaround problem

NIKE Stock Performance

Shares of NYSE NKE opened at $42.99 on Wednesday. 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, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The company has a 50 day simple moving average of $43.70 and a two-hundred day simple moving average of $51.52. The stock has a market cap of $63.66 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.92 and a beta of 1.12.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were given a dividend of $0.41 per share. The ex-dividend date was Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 3.8%. NIKE’s payout ratio 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).