TLDR
- NKE opened at $36.81, near its 52-week low of $36.55, down roughly 33% since March 2026
- Baird Financial Group cut its NKE stake by 46.7%, selling 290,482 shares in Q2
- Nike beat Q4 EPS estimates ($0.20 vs $0.11 expected) but revenue fell 1.1% year over year
- Analyst consensus sits at “Hold” with a $50.12 average price target; several firms have cut targets
- Nike declared a $0.41 quarterly dividend, representing a 4.5% annualized yield
Nike (NKE) stock opened at $36.81 on Friday, just above its one-year low of $36.55. The stock has dropped around 32.7% since March 2026, erasing billions in market value and pushing its market cap to $54.62 billion.
Baird Financial Group was one of the more active sellers in Q2, cutting its NKE position by 46.7%. The firm sold 290,482 shares and now holds 332,029 shares valued at around $13.63 million. Institutional investors as a group still own 64.25% of the stock.
Other firms moved in smaller amounts. Scarborough Advisors, Cornerstone Financial Management, and Sankala Group each opened new positions worth around $25,000 to $26,000. Meeder Asset Management more than doubled its position, adding 285 shares to bring its total to 548.
Despite the pressure on the stock, Nike’s most recent quarterly earnings were not a total miss. The company reported EPS of $0.20 for the quarter ended June 30, beating the consensus estimate of $0.11 by $0.09. Revenue came in at $10.97 billion, above the $10.85 billion estimate.
However, that revenue figure was still down 1.1% compared to the same period last year. Return on equity stood at 16.54%, with a net margin of 6.70%.
Analyst Targets Keep Falling
Wall Street has not been kind with its price targets lately. Rothschild and Co Redburn cut its target from $45 to $37 and maintained a “Sell” rating. Wells Fargo dropped its target from $45 to $40, keeping an “Equal Weight” rating. Goldman Sachs lowered its target from $46 to $42 with a “Neutral” rating.
Piper Sandler also trimmed its target from $50 to $45. The consensus across 37 analysts sits at “Hold” with an average target of $50.12. Six analysts currently have a “Sell” or equivalent rating on the stock.
Morgan Stanley flagged that more pain could be ahead, citing ongoing operating weakness. Nike is also set to be removed from the S&P 100, which could reduce index-related buying pressure.
Insiders Selling Too
Two senior executives recently sold stock under pre-arranged Rule 10b5-1 plans. COO Venkatesh Alagirisamy sold 3,671 shares on September 9 at an average price of $37.59, netting roughly $138,000. Insider Amy Montagne sold 4,867 shares on August 7 at $42.05, totalling around $204,657.
In total, insiders have sold 14,974 shares worth $600,126 over the last three months. Insiders currently own 1.10% of the company.
On the technical side, NKE is trading well below both its 50-day moving average of $41.04 and its 200-day moving average of $45.32. The stock’s forward P/E stands at 22.3x based on analyst EPS estimates of $1.74 for the full year.
Nike declared a quarterly dividend of $0.41 per share, payable October 1 to shareholders of record as of September 1. The annualized yield works out to 4.5%, with a payout ratio of 78.47%.
BMO Capital Markets recently issued an “Underperform” rating, the latest in a string of bearish calls from Wall Street firms.
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