Rockland Trust Boosts NIKE Stake by 14.9% in Q3

Rockland Trust Co. has significantly increased its stake in NIKE, Inc. (NYSE: NKE) by 14.9% during the third quarter, according to its recent Form 13F filing with the Securities and Exchange Commission. The institutional investor now holds 633,768 shares of the footwear company, valued at $22,435,000.

Several other institutional investors have also adjusted their positions in NIKE. State Street Corp grew its holdings by 2.2% in the fourth quarter, now owning 59,315,606 shares worth $3,802,807,000. Capital World Investors raised its stake by 16.2%, holding 49,069,951 shares valued at $3,126,246,000. J. Stern & Co. LLP made a notable increase of 49,010.4%, now owning 48,054,542 shares worth $3,061,555,000. Janus Henderson Group PLC boosted its position by 12.5%, holding 7,887,609 shares valued at $502,537,000. Flossbach Von Storch SE acquired a new position in NIKE in the second quarter, valued at approximately $488,714,000.

NIKE's stock recently traded at $33.61, down $0.26 during midday trading on Monday. The stock's 50-day moving average is $38.88, and its 200-day moving average is $42.79. The company has a market cap of $49.87 billion, a P/E ratio of 16.14, and a beta of 1.09. NIKE reported quarterly earnings of $0.48 per share, beating estimates of $0.43, but revenue fell short at $11.21 billion compared to the estimated $11.32 billion. The company has set its FY 2027 guidance at 1.150-1.350 EPS.

Analysts have mixed views on NIKE. HSBC lowered its price target to $40.00 with a 'hold' rating, while UBS Group maintained a 'neutral' rating with a target price of $34.00. Morgan Stanley gave an 'underweight' rating with a $27.00 target, and Zacks Research downgraded NIKE to a 'strong sell'. The consensus rating is 'Hold' with an average price target of $41.80.