NIKE, Inc. $NKE Stock: Boston Trust Walden Corp Lowers Holdings

Boston Trust Walden Corp reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 412,187 shares of the footwear maker’s stock after selling 21,046 shares during the period. Boston Trust Walden Corp’s holdings in NIKE were worth $14,591,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. OneDigital Investment Advisors LLC lifted its holdings in shares of NIKE by 32.8% in the second quarter. OneDigital Investment Advisors LLC now owns 244,296 shares of the footwear maker’s stock worth $10,028,000 after acquiring an additional 60,375 shares during the last quarter. Douglas Lane & Associates LLC boosted its stake in shares of NIKE by 57.7% in the 3rd quarter. Douglas Lane & Associates LLC now owns 1,521,611 shares of the footwear maker’s stock valued at $53,865,000 after purchasing an additional 556,798 shares in the last quarter. B.A. Schrock Wealth Management Inc. bought a new stake in shares of NIKE during the 3rd quarter valued at approximately $1,153,000. Quantitative Investment Management LLC bought a new stake in shares of NIKE during the 2nd quarter valued at approximately $2,459,000. Finally, Deutsche Bank AG grew its holdings in shares of NIKE by 8.0% during the 2nd quarter. Deutsche Bank AG now owns 3,566,634 shares of the footwear maker’s stock valued at $146,410,000 after purchasing an additional 264,576 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Nike’s product reset is focused on performance innovation and fresh launches, while tighter control of Jordan releases and digital distribution may help protect full-price sales. Will Product Reset Change Nike’s Narrative
• Positive Sentiment: Some coverage sees evidence of progress: gross margin expanded despite falling sales, and Nike recently beat quarterly EPS estimates. Nike vs. Lululemon
• Neutral Sentiment: Nike’s first fully electric container barge in Vietnam supports its sustainability efforts, but the report does not indicate a near-term financial impact. Nike Put Vietnam’s First Fully Electric Container Barge Into Service
• Negative Sentiment: CEO commentary about a “blind spot” comes as Jordan and Dunk sales shrink, raising concern that Nike has misjudged shifts in demand for major franchises. Nike CEO admits blind spot as Jordan and Dunk sales shrink
• Negative Sentiment: Truist downgraded NKE to Sell and set a $29 target, citing risks across the business and valuation. That contrasts with more optimistic views and adds pressure after the stock’s recent rally. NKE Downgraded To Sell At Truist
• Negative Sentiment: The turnaround still faces weak demand: one report says sales in China fell 25% year over year and Nike expects sales to decline this year. Is Now a Good Time to Buy Nike Stock?

Insiders Place Their Bets

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the sale, the chief operating officer directly owned 104,862 shares in the company, valued at $3,941,762.58. This represents a 3.38% decrease in their ownership of the stock. 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 stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of the sale, the executive vice president owned 78,121 shares of the company’s stock, valued at $2,936,568.39. The trade was a 3.17% decrease in their ownership of the stock. 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. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler set a $28.00 price objective on shares of NIKE and gave the company a “neutral” rating in a research note on Friday, October 2nd. Wells Fargo & Company set a $30.00 target price on shares of NIKE and gave the company an “equal weight” rating in a research report on Friday, October 2nd. Robert W. Baird decreased their target price on shares of NIKE from $44.00 to $36.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. UBS Group reiterated a “neutral” rating on shares of NIKE in a report on Thursday, October 22nd. Finally, Evercore dropped their price target on NIKE from $46.00 to $28.00 in a research note on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty have given a Hold rating and twelve have given a Sell rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Reduce” and an average price target of $40.93.

NIKE Stock Down 2.2%

Shares of NYSE NKE opened at $39.59 on Friday. The company has a 50 day simple moving average of $36.90 and a 200 day simple moving average of $45.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39. NIKE, Inc. has a 1 year low of $31.97 and a 1 year high of $69.14. The firm has a market cap of $58.80 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 4.73 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.05. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The firm had revenue of $11.21 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue was down 4.3% on a year-over-year basis. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, research analysts forecast that NIKE, Inc. will post 1.22 EPS for the current year.

NIKE Profile

NIKE, Inc is a global athletic footwear, apparel, equipment and accessories company headquartered near Beaverton, Oregon. The company designs, develops, markets and sells products under the Nike, Jordan and Converse brands, serving athletes and consumers across a broad range of sports and lifestyle categories.

NIKE’s product portfolio includes athletic and casual footwear, performance and lifestyle apparel, sports equipment, accessories and digital fitness-related offerings. The company distributes its products through company-owned retail stores, digital platforms and wholesale partners, while also operating direct-to-consumer and membership programs.

The company traces its origins to 1964, when Phil Knight and Bill Bowerman founded Blue Ribbon Sports.