Econ Financial Services Corp Buys 13,647 Shares of NIKE, Inc. $NKE

Econ Financial Services Corp boosted its position in NIKE, Inc. (NYSE:NKE) by 26.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,464 shares of the footwear maker’s stock after acquiring an additional 13,647 shares during the quarter. NIKE accounts for approximately 2.1% of Econ Financial Services Corp’s portfolio, making the stock its 11th largest holding. Econ Financial Services Corp’s holdings in NIKE were worth $4,171,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. PineStone Asset Management Inc. raised its holdings in shares of NIKE by 13.5% during the 4th quarter. PineStone Asset Management Inc. now owns 1,867,235 shares of the footwear maker’s stock valued at $118,962,000 after buying an additional 221,900 shares in the last quarter. White Wing Wealth Management boosted its stake in NIKE by 9.8% in the fourth quarter. White Wing Wealth Management now owns 6,831 shares of the footwear maker’s stock worth $435,000 after buying an additional 608 shares in the last quarter. My Personal CFO LLC bought a new position in NIKE during the fourth quarter valued at approximately $216,000. Nisa Investment Advisors LLC grew its position in NIKE by 3.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 375,690 shares of the footwear maker’s stock valued at $24,084,000 after acquiring an additional 12,402 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its stake in shares of NIKE by 6.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 26,989 shares of the footwear maker’s stock worth $1,719,000 after acquiring an additional 1,595 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 3.1%

Shares of NIKE stock opened at $52.83 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06. NIKE, Inc. has a 52-week low of $50.95 and a 52-week high of $80.17. The company’s 50 day moving average price is $59.68 and its 200-day moving average price is $63.66. The stock has a market capitalization of $78.21 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 2.69 and a beta of 1.27.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a net margin of 5.43% and a return on equity of 18.43%. The firm’s revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.54 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 2nd. NIKE’s dividend payout ratio is 96.47%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays upgraded shares of NIKE from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $64.00 to $73.00 in a report on Wednesday, March 11th. Citigroup reiterated a “neutral” rating and issued a $65.00 target price (down from $70.00) on shares of NIKE in a research report on Friday, December 19th. Daiwa Securities Group lowered their price target on shares of NIKE from $75.00 to $61.00 in a research note on Tuesday, December 23rd. KeyCorp cut their price target on shares of NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Finally, Bank of America reduced their price objective on NIKE from $84.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, December 19th. Twenty-two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $73.20.

NIKE News Summary

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Q3 beat on top and bottom lines — Nike reported revenue ~ $11.3B and EPS that beat consensus, with management citing better discount control and product launches that helped sales outperform expectations, supporting near-term confidence in the turnaround. Nike third-quarter sales beat estimates
• Positive Sentiment: Analyst and shop-floor endorsement — Several analysts and boutiques highlighted product innovation and progress on the “Win Now” initiatives, and some firms reaffirmed bullish views, giving the stock support after the print. Telsey Advisory: Product innovation key to return to growth
• Neutral Sentiment: Options and positioning amplified moves — Pre-earnings options flow showed upside-heavy positioning into the release, which can magnify intraday moves as traders adjust exposures after the print. Nike options chain shows upside-heavy positioning into earnings
• Neutral Sentiment: Macro/trade flows supporting a bounce — Some broader market buying into quarter-end and hopes around geopolitical stability boosted risk appetite, helping cyclical names like Nike. Month of March Goes Out Like a Bull
• Negative Sentiment: China remains a clear headwind — Management and reporting highlighted continued weak demand and execution issues in China, which pressured profit and investor confidence given China’s outsized long-term importance. Nike Third-Quarter Profit Declines as Weak Demand in China Drags On
• Negative Sentiment: Margin and cash-flow pressures noted — Reports and filings show gross-profit and operating-profit declines y/y, tariff-related margin pressure and weaker operating cash flow versus prior years, which leave longer-term improvement questions unanswered for some investors. Nike’s China stumble exposes execution gaps

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).