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NIKE Shareholders Hit Hard as Analysts Cut Price Targets Amid Market Concerns

Guavy AI Editorial Team
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NKE
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Kimelman & Baird LLC has significantly reduced its stake in NIKE, Inc. (NYSE:NKE) by 99% during the second quarter, according to a recent filing with the Securities & Exchange Commission.

The fund owned 1,968 shares of NIKE's stock after selling 188,026 shares during the quarter. Kimelman & Baird LLC's holdings in NIKE were worth $81,000 at the end of the most recent quarter.

Nike's stock has been under pressure due to soft consumer confidence, weaker traffic, excess legacy inventory and doubts about product innovation. Analysts have cut price targets and bearish sentiment remains prevalent.

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