Matrix Asset Advisors Inc. NY Acquires Shares of 132,752 NIKE, Inc. $NKE

Matrix Asset Advisors Inc. NY bought a new position in NIKE, Inc. (NYSE:NKE) during the 1st quarter, Holdings Channel reports. The institutional investor bought 132,752 shares of the footwear maker’s stock, valued at approximately $7,012,000.

A number of other institutional investors have also recently modified their holdings of NKE. Cornerstone Financial Management LLC purchased a new position in NIKE in the fourth quarter worth about $26,000. Sankala Group LLC purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $26,000. J.Safra Asset Management Corp purchased a new stake in shares of NIKE during the fourth quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new stake in shares of NIKE during the fourth quarter valued at approximately $30,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of NIKE during the fourth quarter valued at approximately $32,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting NIKE

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 Stock Up 0.0%

Shares of NKE stock opened at $40.76 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17. The stock has a market cap of $60.36 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.77 and a beta of 1.12. The company has a 50 day simple moving average of $44.19 and a two-hundred day simple moving average of $53.89.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The business had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the company posted $0.54 EPS. The company’s revenue was up .1% compared to the same quarter last year. On average, research analysts expect that NIKE, Inc. will post 1.49 earnings per share for the current year.

NIKE Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Sanford C. Bernstein reaffirmed a “buy” rating on shares of NIKE in a research report on Wednesday, June 24th. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Barclays decreased their price target on NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. The Goldman Sachs Group set a $46.00 price target on NIKE and gave the company a “neutral” rating in a report on Tuesday, June 23rd. Finally, DA Davidson cut NIKE from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $72.00 to $46.00 in a research report on Thursday, April 2nd. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $59.01.

Insider Buying and Selling at NIKE

In related news, Director Timothy D. Cook purchased 25,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was acquired 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 of the company’s stock, valued at approximately $5,536,266.40. This trade represents a 23.70% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 value 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 trade 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. Insiders have purchased a total of 64,441 shares of company stock valued at $2,734,204 in the last ninety days. 0.80% of the stock is currently owned by company insiders.

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).