Kiltearn Partners LLP Takes a New Stake in Troubled Nike

Kiltearn Partners LLP made a significant investment in NIKE, Inc. (NYSE:NKE) during the second quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission. The institutional investor purchased 111,171 shares of the footwear maker's stock, valued at approximately $4,564,000.

This represents a new position for Kiltearn Partners LLP, which now holds NIKE as its 24th largest holding in its portfolio, making up about 1.1% of it.

NIKE faces challenges such as sluggish revenue growth, intensifying competition, and difficulties rebuilding its direct-to-consumer business, but some investors see potential value after the recent selloff.

Analysts' views are sharply divided, with reported price targets ranging from $23 to $75, while the median target is about $47.50, indicating substantial upside but significant uncertainty about the timing and strength of a recovery.