NIKE, Inc. $NKE Stock Holdings Lowered by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 96.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,365 shares of the footwear maker’s stock after selling 36,550 shares during the period. Carnegie Lake Advisors LLC’s holdings in NIKE were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FAS Wealth Partners Inc. increased its stake in shares of NIKE by 4.2% in the 1st quarter. FAS Wealth Partners Inc. now owns 6,109 shares of the footwear maker’s stock worth $323,000 after acquiring an additional 249 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in NIKE by 34.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 989 shares of the footwear maker’s stock valued at $41,000 after acquiring an additional 254 shares during the period. Midwest Professional Planners LTD. boosted its stake in NIKE by 1.5% during the first quarter. Midwest Professional Planners LTD. now owns 17,904 shares of the footwear maker’s stock worth $946,000 after acquiring an additional 266 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in NIKE by 15.4% during the third quarter. Salomon & Ludwin LLC now owns 2,019 shares of the footwear maker’s stock worth $71,000 after acquiring an additional 269 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its stake in NIKE by 8.4% during the third quarter. Westside Investment Management Inc. now owns 3,484 shares of the footwear maker’s stock worth $123,000 after acquiring an additional 270 shares in the last quarter. 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: 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

A number of equities analysts have weighed in on NKE shares. JPMorgan Chase & Co. decreased their target price on shares of NIKE from $40.00 to $33.00 and set an “underweight” rating for the company in a research note on Friday, October 2nd. Royal Bank Of Canada dropped their price target on NIKE from $40.00 to $39.00 and set a “sector perform” rating on the stock in a research report on Friday. KeyCorp reissued a “sector weight” rating on shares of NIKE in a research report on Friday, October 2nd. BNP Paribas Exane set a $19.00 price target on NIKE and gave the stock an “underperform” rating in a research note on Friday, October 2nd. Finally, Citigroup reduced their price objective on NIKE from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twenty have issued a Hold rating and twelve have given a Sell rating to the stock. According to MarketBeat.com, NIKE has an average rating of “Reduce” and an average target price of $40.91.

NIKE Price Performance

NYSE NKE opened at $38.61 on Monday. NIKE, Inc. has a one year low of $31.97 and a one year high of $69.14. The stock has a 50-day moving average of $36.91 and a 200 day moving average of $45.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 2.07. 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.

NIKE (NYSE:NKE) last posted its 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. The business had revenue of $11.21 billion for the quarter, compared to analysts’ expectations of $11.32 billion. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 EPS. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, sell-side analysts forecast that NIKE, Inc. will post 1.22 EPS for the current year.

Insider Buying and Selling

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

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.