Diamant Asset Management Inc. Increases Stock Position in NIKE, Inc. $NKE

Diamant Asset Management Inc. boosted its position in NIKE, Inc. (NYSE:NKE) by 38,757.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,879,124 shares of the footwear maker’s stock after acquiring an additional 1,874,288 shares during the period. Diamant Asset Management Inc.’s holdings in NIKE were worth $99,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of NIKE by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker’s stock worth $7,453,658,000 after purchasing an additional 1,702,342 shares during the period. State Street Corp increased its holdings in NIKE by 2.2% during the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker’s stock valued at $3,802,807,000 after purchasing an additional 1,275,494 shares during the period. Capital World Investors increased its holdings in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the period. J. Stern & Co. LLP raised its position in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock valued at $3,061,555,000 after purchasing an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker’s stock valued at $1,677,251,000 after purchasing an additional 233,925 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

More NIKE News

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

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 4,000 shares of the stock in a transaction on Thursday, April 9th. The stock was acquired at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the transaction, the director owned 41,022 shares of the company’s stock, valued at $1,777,893.48. This represents a 10.80% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Holmes Swan bought 11,781 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were acquired at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the acquisition, the director owned 55,074 shares in the company, valued at approximately $2,337,340.56. This represents a 27.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 64,441 shares of company stock valued at $2,734,204 in the last 90 days. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NKE. China Renaissance cut their price objective on NIKE from $74.60 to $50.30 and set a “hold” rating on the stock in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on NIKE from $51.00 to $43.00 and set a “hold” rating for the company in a report on Friday. Barclays dropped 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. Jefferies Financial Group cut their price target on shares of NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Finally, Weiss Ratings downgraded shares of NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 8th. Fourteen analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Hold” and a consensus price target of $59.01.

NIKE Stock Down 0.3%

NKE stock opened at $40.76 on Friday. NIKE, Inc. has a fifty-two week low of $40.00 and a fifty-two week high of $80.17. The company has a market capitalization of $60.36 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 1.77 and a beta of 1.12. The business’s 50 day moving average price is $44.19 and its two-hundred day moving average price is $53.96. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS 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 during the quarter, compared to analysts’ expectations of $11.23 billion. During the same quarter last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, analysts forecast that NIKE, Inc. will post 1.49 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s dividend payout ratio is 108.61%.

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).