CI Investments Inc. Decreases Holdings in NIKE, Inc. $NKE

CI Investments Inc. reduced its stake in NIKE, Inc. (NYSE:NKE) by 31.3% in the 1st quarter, Holdings Channel reports. The firm owned 730,750 shares of the footwear maker’s stock after selling 332,574 shares during the quarter. CI Investments Inc.’s holdings in NIKE were worth $38,598,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new stake in shares of NIKE in the first quarter valued at about $25,000. Cornerstone Financial Management LLC purchased a new stake in shares of NIKE during the 4th quarter valued at about $26,000. Sankala Group LLC acquired a new position in NIKE during the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its position in NIKE by 108.4% during the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after acquiring an additional 285 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new position in NIKE in the 4th quarter worth approximately $29,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

NKE stock opened at $42.99 on Wednesday. The stock’s 50 day moving average is $43.70 and its two-hundred day moving average is $51.52. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The company has a market capitalization of $63.66 billion, a PE ratio of 20.57, a P/E/G ratio of 1.92 and a beta of 1.12. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, beating the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $10.85 billion. During the same period in the prior year, the business posted $0.14 EPS. The business’s revenue was down 1.1% on a year-over-year basis. Analysts predict that NIKE, Inc. will post 1.74 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a $0.41 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.64 annualized dividend and a yield of 3.8%. NIKE’s dividend payout ratio is currently 78.47%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NKE. Stifel Nicolaus set a $45.00 price objective on shares of NIKE and gave the company a “hold” rating in a research report on Wednesday, July 1st. Jefferies Financial Group reduced their target price on shares of NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. DZ Bank restated a “buy” rating on shares of NIKE in a research note on Tuesday, June 30th. The Goldman Sachs Group lowered their price target on shares of NIKE from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Finally, Oppenheimer dropped their price target on shares of NIKE from $120.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nineteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.86.

Insider Buying and Selling

In other news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $46.18, for a total value of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.10% of the stock is owned by company insiders.

NIKE News Roundup

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE is restructuring its China e-commerce strategy by steering shoppers to official channels and cutting off thousands of third-party online distributors, a move that could improve brand control, reduce marketplace clutter, and support margins. Nike to cut off thousands of online distributors in China, restructure digital footprint
• Positive Sentiment: The company’s focus on new performance products, advanced technologies, and its “Sport Offense” strategy could help reignite demand over time if the innovation pipeline converts into stronger sales. NIKE’s Innovation Pipeline: Can New Products Spark Demand?
• Neutral Sentiment: Analyst commentary and market-activity coverage suggest investors are closely monitoring NIKE’s turnaround story, but these items do not appear to add a major new catalyst on their own. SA analyst upgrades/downgrades: NKE, DDOG, BIDU, INTC
• Neutral Sentiment: Commentary on NIKE’s broader brand reset, retail growth strategy, and stock activity reflects ongoing debate about the turnaround, but these headlines are more diagnostic than immediately actionable. Nike (NYSE:NKE) Faces A Crucial Brand Reset
• Neutral Sentiment: Coverage noting NIKE’s miss on World Cup final exposure and LeBron James’ criticism underscores brand relevance concerns, but the effect is longer-term and harder to quantify immediately. Nike Misses World Cup Final as Adidas Gains Merchandise Opportunity
• Negative Sentiment: Ongoing concerns about weak consumer demand, heavy discounting in key Sportswear and Jordan lines, and questions about cultural relevance continue to weigh on sentiment for NIKE. The Bull Case For NIKE (NKE) Could Change Following Missed World Cup Moment And Brand Relevance Questions
• Negative Sentiment: LeBron James’ comments that NIKE needs to reconnect with local communities and consumers reinforce the view that the brand still has a turnaround problem to solve. LeBron James exposes Nike’s hidden turnaround problem

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).