Soltis Investment Advisors LLC Purchases 87,804 Shares of NIKE, Inc. $NKE

Soltis Investment Advisors LLC grew its position in NIKE, Inc. (NYSE:NKE) by 43.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,438 shares of the footwear maker’s stock after acquiring an additional 87,804 shares during the quarter. Soltis Investment Advisors LLC’s holdings in NIKE were worth $10,246,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its stake in NIKE by 6.8% during the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after purchasing an additional 4,052,428 shares during the last quarter. Flossbach Von Storch SE acquired a new position in NIKE in the second quarter worth $488,714,000. Amundi boosted its holdings in NIKE by 59.4% in the second quarter. Amundi now owns 6,460,398 shares of the footwear maker’s stock worth $265,199,000 after purchasing an additional 2,406,609 shares during the period. Van ECK Associates Corp increased its stake in NIKE by 4.8% during the second quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker’s stock valued at $256,885,000 after purchasing an additional 286,395 shares during the last quarter. Finally, Swiss National Bank increased its stake in NIKE by 7.3% during the first quarter. Swiss National Bank now owns 3,496,700 shares of the footwear maker’s stock valued at $184,696,000 after purchasing an additional 237,600 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE introduced the “Vegam Run” running shoe in India, targeting the country’s expanding running and fitness market. The initiative could help diversify growth away from China, where sales have been declining, and strengthen NIKE’s position in a strategically important market. Reuters article
• Positive Sentiment: Bernstein maintained its Buy rating, signaling that at least one major analyst continues to see value in NIKE’s turnaround potential despite near-term operating challenges. Bernstein rating article
• Neutral Sentiment: NIKE’s shares gained but lagged some competing stocks, suggesting the move was not driven by a broad re-rating of the athletic-apparel sector. MarketWatch performance article
• Negative Sentiment: Analysts and investors remain concerned that NIKE’s turnaround will take longer than expected. Portfolio commentary points to pressure on revenue, brand momentum and investor expectations, prompting some investors to reconsider their holdings. Yahoo Finance turnaround article
• Negative Sentiment: Comparisons with adidas highlight NIKE’s weaker recent sales and profitability trajectory, while competitors such as HOKA and UGG are also being monitored for their ability to capture market share. Zacks comparison article
• Negative Sentiment: A sharply reduced consensus price target and questions about whether NIKE’s dividend remains adequately supported by future cash flow underscore valuation and balance-sheet risks. Consensus target article

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NKE shares. Stifel Nicolaus dropped their target price on shares of NIKE from $40.00 to $36.00 and set a “hold” rating on the stock in a report on Friday, October 2nd. HSBC decreased their price target on shares of NIKE from $48.00 to $40.00 and set a “hold” rating for the company in a report on Monday, September 28th. Argus raised shares of NIKE to a “strong-buy” rating in a research report on Wednesday, July 15th. Wells Fargo & Company set a $30.00 price objective on shares of NIKE and gave the stock an “equal weight” rating in a research note on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $33.00 price objective on shares of NIKE in a research note on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twenty-one have assigned a Hold rating and eleven have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $40.93.

NIKE Price Performance

Shares of NKE opened at $38.37 on Friday. NIKE, Inc. has a 12 month low of $31.97 and a 12 month high of $69.14. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.07 and a quick ratio of 1.39. The stock has a fifty day moving average price of $36.97 and a 200 day moving average price of $46.41. The company has a market cap of $56.99 billion, a P/E ratio of 18.45, a PEG ratio of 4.34 and a beta of 1.09.

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 analysts’ consensus estimates of $0.43 by $0.05. The company had revenue of $11.21 billion for the quarter, compared to analysts’ expectations of $11.32 billion. NIKE had a return on equity of 15.94% and a net margin of 6.74%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.49 earnings per share. 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 earnings per share for the current year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.64 annualized dividend and a dividend yield of 4.3%. NIKE’s dividend payout ratio is currently 78.85%.

Insider Activity

In other NIKE news, CFO Matthew Friend sold 2,463 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the transaction, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at $3,418,064. The trade was a 2.91% decrease in their position. 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 business’s stock in a transaction dated 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 directly 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. 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 sold 14,974 shares of company stock worth $600,126 in the last 90 days. 1.10% of the stock is currently owned by insiders.

NIKE Company 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.