Nike(NYSE:NKE) misses revenue 90% of their stores were closed due to the Corona virus but their digital sales were up 75%.
Nike (NKE) had a quarterly loss and posted fiscal fourth-quarter sales that dropped more than expected, as due to global store closures negatively impacting the athletic-wear maker’s results. Revenue loss per was 51 cents per share vs. earnings of 10 cents per share. The expected and earnings of 62 cents year over year.
Raymond James analyst Matthew McClintock was bullish ahead of Nike earnings, rating the stock as outperform with a 115 target. He believes Nike is one of the best-positioned long-term brands to navigate the current climate, with “strong brand momentum, financial flexibility, and digital leadership.” Source [i]
John Donahoe was appointed as the company’s new President and Chief Executive Officer, effective Jan. 13, 2020. John Donahoe was the current President and CEO of ServiceNow, Inc. and also serves on its Board of Directors. He is Chairman of PayPal Holdings, Inc. From 2008 through 2015, he was President and CEO of eBay, Inc.
NIKE, Inc. is announcing a $40 million commitment over the next four years to support the Black community in the U.S. on behalf of the NIKE, Michael Jordan, and Converse brands collectively.[ii]
Top Institutional Holders
Holder Shares Date Reported % Out Value
Vanguard Group, Inc. (The) 109,166,938 Mar 30, 2020 8.80% 9,032,472,450
Blackrock Inc. 90,976,698 Mar 30, 2020 7.34% 7,527,411,992
State Street Corporation 58,651,054 Mar 30, 2020 4.73% 4,852,788,207
FMR, LLC 31,048,487 Mar 30, 2020 2.50% 2,568,951,814
Bank Of New York Mellon Corporation 26,547,619 Mar 30, 2020 2.14% 2,196,549,996
Wellington Management Company, LLP 22,175,695 Mar 30, 2020 1.79% 1,834,817,004
Capital World Investors 20,704,258 Mar 30, 2020 1.67% 1,713,070,306
Morgan Stanley 20,528,550 Mar 30, 2020 1.66% 1,698,532,227
Northern Trust Corporation 20,172,513 Mar 30, 2020 1.63% 1,669,073,725
Top Mutual Fund Holders
Holder Shares Date Reported % Out Value
Vanguard Total Stock Market Index Fund 36,550,605 Mar 30, 2020 2.95% 3,024,197,057
Vanguard 500 Index Fund 25,649,647 Mar 30, 2020 2.07% 2,122,251,792
SPDR S&P 500 ETF Trust 13,782,994 Mar 30, 2020 1.11% 1,140,404,923
Vanguard Specialized-Dividend Growth Fund 13,046,236 Jan 30, 2020 1.05% 1,256,352,526
Fidelity 500 Index Fund 10,906,715 Mar 30, 2020 0.88% 902,421,599
Growth Fund of America Inc 10,828,023 Dec 30, 2019 0.87% 1,096,987,010
[i] https://www.investors.com/news/nike-earnings-q4-2020-nike-stock-buy-point/
[ii] https://news.nike.com/news/nike-commitment-to-black-community
CWEB Analysts see the stock as a potential for long and short term growth post pandemic and upwards of $150 by 2021
CWEB.com is not registered as an investment adviser with the U.S. Securities and Exchange Commission. Rather, CWEB.com relies upon the “publisher’s exclusion” from the definition of investment adviser as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.
