NIKE, Inc. $NKE Shares Sold by Meitav Investment House Ltd.

Meitav Investment House Ltd. trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 29.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 673,875 shares of the footwear maker’s stock after selling 282,513 shares during the period. Meitav Investment House Ltd.’s holdings in NIKE were worth $35,594,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC acquired a new position in shares of NIKE during the 4th quarter valued at about $26,000. Sankala Group LLC purchased a new position in shares of NIKE during the 4th quarter worth about $26,000. J.Safra Asset Management Corp acquired a new stake in shares of NIKE in the fourth quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new stake in shares of NIKE in the fourth quarter worth approximately $30,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in NIKE in the fourth quarter valued at approximately $32,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on NKE. JPMorgan Chase & Co. dropped their price target on shares of NIKE from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Wall Street Zen upgraded shares of NIKE from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. BNP Paribas Exane reissued an “underperform” rating and set a $23.00 price objective on shares of NIKE in a research note on Wednesday, July 1st. Piper Sandler dropped their price objective on NIKE from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, July 1st. Finally, Jefferies Financial Group cut their target price on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Thirteen equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, NIKE presently has an average rating of “Hold” and a consensus price target of $55.42.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Several recent articles highlighted that NIKE’s latest quarterly results beat some expectations, with revenue of about $11.0 billion and EPS of $0.20 topping estimates, which could support the case that the business is stabilizing. Article Title
• Positive Sentiment: Optimism around NIKE’s wholesale business has grown, with reports pointing to stronger retail partnerships and healthier inventory levels as possible signs of a turnaround in the channel mix. Article Title
• Positive Sentiment: Insider buying has been a modest confidence signal, with several executives and directors purchasing shares over the past six months, including CEO Elliott Hill, which may reassure some investors. Article Title
• Neutral Sentiment: NIKE also announced a CFO transition, naming David M. Denton to succeed the longtime finance chief in August, a move that adds leadership continuity but is not a major immediate catalyst. Article Title
• Negative Sentiment: Bearish coverage continues to pressure sentiment, with analysts and market commentators citing persistent earnings deceleration and repeated downward EPS estimate cuts as key reasons the stock remains weak. Article Title
• Negative Sentiment: Ongoing concerns about brand challenges, softer China sales, and limited guidance continue to weigh on the outlook, contributing to broad skepticism about near-term recovery. Article Title

NIKE Trading Down 0.5%

NKE traded down $0.20 on Tuesday, reaching $43.14. 5,264,176 shares of the company’s stock were exchanged, compared to its average volume of 21,281,598. NIKE, Inc. has a twelve month low of $40.00 and a twelve month high of $80.17. The company’s 50 day moving average is $43.86 and its 200-day moving average is $53.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The company has a market cap of $63.89 billion, a price-to-earnings ratio of 20.63, a PEG ratio of 2.49 and a beta of 1.12.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.85 billion. During the same period in the previous year, the company posted $0.14 earnings per share. NIKE’s revenue was down 1.1% compared to the same quarter last year. Equities analysts predict that NIKE, Inc. will post 1.8 earnings per share for the current year.

NIKE Announces Dividend

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

Insider Buying and Selling

In related news, EVP Philip Mccartney sold 17,398 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the transaction, the executive vice president directly 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 legal filing with the SEC, which is accessible through 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. Also, Director John W. Rogers, Jr. bought 4,000 shares of NIKE stock in a transaction dated Thursday, April 9th. The shares were purchased at an average cost of $43.34 per share, for a total transaction of $173,360.00. Following the completion of the transaction, the director owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This represents a 10.80% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders bought 52,660 shares of company stock valued at $2,234,218. Insiders own 0.80% of the company’s stock.

About NIKE

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).