BlackRock Sells 10M Shares of Nike Amid Turnaround Efforts

BlackRock Inc., one of the world's largest asset managers, has reduced its stake in NIKE, Inc. (NYSE:NKE) by selling 9,984,473 shares during the second quarter, according to a recent disclosure with the Securities and Exchange Commission (SEC). The sale resulted in BlackRock owning 81,814,490 shares of NIKE's stock, representing a decrease of 10.9% from its previous stake. At the end of the most recent quarter, BlackRock owned 5.51% of NIKE worth $3,358,485,000.

Other institutional investors have also adjusted their stakes in NIKE during the second quarter. Meeder Asset Management Inc., for example, increased its position in NIKE by 108.4%, and several hedge funds acquired new positions in the company's stock. However, some analysts remain cautious about NIKE's turnaround efforts, citing concerns over weak direct-to-consumer demand and international pressure.

Nike's quarterly earnings report on June 30th showed a beat of $0.09 per share, but revenue was down 1.1% year-over-year. Despite this, the company maintained its dividend-growth streak for a 24th consecutive year in 2026, with a yield near 4%. Analysts have issued varying price targets for NIKE, ranging from $45 to $60.