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Nike, Inc. (NKE) Stock Could Soon Reward Patient Investors

Nike, Inc. (NYSE: NKE) is -14.75% lower on its value in year-to-date trading and has touched a low of $88.66 and a high of $128.68 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NKE stock was last observed hovering at around $93.98 in the last trading session, with the day’s loss setting it -1.42%.

Currently trading at $92.56, the stock is -5.81% and -8.66% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 10.16 million and changing -1.51% at the moment leaves the stock -11.44% off its SMA200. NKE registered -23.18% loss for a year compared to 6-month gain of 3.27%. The firm has a 50-day simple moving average (SMA 50) of $2.75 and a 200-day simple moving average (SMA200) of $23.68.

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The stock witnessed a -10.94% loss in the last 1 month and extending the period to 3 months gives it a -14.94%, and is -1.39% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.09% over the week and 1.99% over the month.

Nike, Inc. (NKE) has around 83700 employees, a market worth around $140.24B and $51.56B in sales. Current P/E ratio is 27.21 and Fwd P/E is 23.18. Profit margin for the company is 10.15%. Distance from 52-week low is 4.40% and -28.07% from its 52-week high. The company has generated returns on investments over the last 12 months (20.24%).

Nike, Inc. quarterly earnings per share for the current quarter are estimated at $0.85 with sales reaching $12.88B over the same period.The EPS is expected to grow by 14.37% this year, but quarterly earnings will post 0.90% year-over-year. Quarterly sales are estimated to grow 0.50% in year-over-year returns.

Nike, Inc. (NKE) Top Institutional Holders

3,245 institutions hold shares in Nike, Inc. (NKE), with institutional investors hold 84.43% of the company’s shares. The shares outstanding are 1.23B, and float is at 1.18B with Short Float at 1.47%. Institutions hold 83.25% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 107.81 million shares valued at $11.9 billion. The investor’s holdings represent 8.81% of the NKE Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 92.83 million shares valued at $10.25 billion to account for 7.58% of the shares outstanding. The other top investors are State Street Corporation which holds 55.21 million shares representing 4.51% and valued at over $6.09 billion, while Morgan Stanley holds 2.39% of the shares totaling 29.26 million with a market value of $3.23 billion.

Nike, Inc. (NKE) Insider Activity

The most recent transaction is an insider sale by PARKER MARK G,the company’sEXECUTIVE CHAIRMAN. SEC filings show that PARKER MARK G sold 168,378 shares of the company’s common stock on Feb 14 ’24 at a price of $105.00 per share for a total of $17.68 million. Following the sale, the insider now owns 1.18 million shares.

Nike, Inc. disclosed in a document filed with the SEC on Dec 11 ’23 that Matheson Monique S. (EVP: CHRO) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Dec 11 ’23 and was made at $119.00 per share for $1.19 million. Following the transaction, the insider now directly holds 44736.0 shares of the NKE stock.

Still, SEC filings show that on Oct 16 ’23, PARKER MARK G (EXECUTIVE CHAIRMAN) disposed off 58,091 shares at an average price of $99.60 for $5.79 million. The insider now directly holds 1,255,600 shares of Nike, Inc. (NKE).

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