National Pension Service Boosts Stake in NIKE Amidst Mixed Analyst Sentiment

National Pension Service, a significant institutional investor, has increased its stake in NIKE, Inc. (NYSE:NKE) by 8.7% during the second quarter.

The fund purchased an additional 247,230 shares of NIKE's stock, bringing its total ownership to 3,088,640 shares, representing 0.21% of the company's outstanding shares worth $126,789,000 as of its most recent filing with the Securities & Exchange Commission.

This move by National Pension Service is not an isolated instance, as other institutional investors have also been adjusting their positions in NIKE. For example, Brighton Jones LLC grew its holdings in NIKE by 388.5% during the fourth quarter and Caxton Associates LLP purchased a new stake in shares of NIKE during the first quarter worth approximately $311,000.

However, not all analysts are optimistic about NIKE's prospects. Morgan Stanley warned that the pain may not be over yet, citing persistent operating weakness, disappointing share performance, and NIKE's imminent removal from the S&P 100. BMO also initiated coverage with an Underperform rating, pointing to challenges facing NIKE and the broader athletic-apparel market.