NIKE, Inc. $NKE Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in NIKE, Inc. (NYSE:NKE) by 19.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,386,091 shares of the footwear maker’s stock after selling 337,600 shares during the period. Pictet Asset Management Holding SA owned approximately 0.09% of NIKE worth $73,212,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Cornerstone Financial Management LLC acquired a new stake in NIKE during the 4th quarter worth approximately $26,000. Sankala Group LLC acquired a new position in shares of NIKE in the fourth quarter worth $26,000. J.Safra Asset Management Corp purchased a new stake in shares of NIKE during the fourth quarter worth $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of NIKE during the fourth quarter worth $30,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of NIKE in the fourth quarter valued at $32,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $41.46 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $44.11 and a 200 day moving average price of $53.74. The company has a market cap of $61.39 billion, a P/E ratio of 27.45, a PEG ratio of 1.77 and a beta of 1.12. NIKE, Inc. has a 12 month low of $40.00 and a 12 month high of $80.17.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. During the same period last year, the firm earned $0.54 earnings per share. NIKE’s quarterly revenue was up .1% on a year-over-year basis. Sell-side analysts predict that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Some investors see NIKE as increasingly attractive at these depressed levels, arguing the stock is a bargain if management can show even modest progress on the turnaround. Article Title
• Positive Sentiment: NIKE is still winning business in key events like the World Cup, which suggests the brand remains strong even as broader execution challenges persist. Article Title
• Positive Sentiment: Some market commentators argue the valuation has become more reasonable ahead of earnings, which could support a rebound if results or guidance improve. Article Title
• Neutral Sentiment: NIKE is set to report fiscal fourth-quarter results on June 30, and options markets are signaling a large post-earnings move, making the stock a high-volatility name this week. Article Title
• Neutral Sentiment: JPMorgan lowered its price target on NIKE to $47 from $52 while keeping a neutral rating, reflecting caution but still implying some upside from current levels. Article Title
• Negative Sentiment: Analysts and preview coverage say the worst may not be over, with estimates still being revised lower ahead of earnings and management expected to guide conservatively. Article Title
• Negative Sentiment: Multiple reports note that NIKE shares have cratered to roughly 11- to 12-year lows, underscoring investor concern about slowing growth and a still-unproven turnaround. Article Title
• Negative Sentiment: Wall Street sentiment remains cautious after a CFO shakeup and repeated price-target cuts, adding to fears that earnings could disappoint again. Article Title

Analyst Ratings Changes

A number of research firms recently issued reports on NKE. Weiss Ratings lowered NIKE from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 8th. CICC Research downgraded NIKE from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $69.00 to $58.00 in a report on Monday, April 6th. BNP Paribas Exane reaffirmed an “underperform” rating on shares of NIKE in a research report on Tuesday, June 23rd. Guggenheim decreased their price objective on NIKE from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Wednesday, April 1st. Finally, The Goldman Sachs Group set a $46.00 price objective on NIKE and gave the stock a “neutral” rating in a research report on Tuesday, June 23rd. Fourteen research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Hold” and a consensus target price of $58.86.

Insiders Place Their Bets

In other NIKE news, Director Timothy D. Cook bought 25,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were acquired at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the transaction, the director owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John W. Rogers, Jr. bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average price of $43.34 per share, with a total value of $173,360.00. Following the purchase, the director owned 41,022 shares of the company’s stock, valued at $1,777,893.48. The trade was a 10.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is currently owned by company insiders.

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).