Wolfe Research Initiates NIKE (NKE) at Underperform

Wolfe Research's Call on NIKE, Inc.

Wolfe Research initiated coverage on NIKE, Inc. (NYSE:NKE) on October 22, 2026, giving the athletic apparel and footwear maker an Underperform rating and a $28.00 price target. The firm established its stance on the same day other financial institutions adjusted their views on the stock, contrasting with more bullish notes from peers like Barclays and BTIG.

NKE NIKE, Inc.

$37.53 ▼ -39.12% year to date

1M 3M YTD

Daily close · Oct 21, 2026

Other Institutional Activity in NIKE, Inc.

Several institutional investors made notable changes to their portfolio holdings recently. Sustainable Growth Advisers exited its stake by selling all 2,433,226 shares in a report dated October 15, 2026. Magnus Financial Group also closed out its position by shedding 14,355 shares, while ARS Wealth Advisors Group parted with its remaining 6,284 shares as of October 16, 2026.

NIKE, Inc. Stock Up 1.3%

NIKE, Inc. shares recently traded around $38.39 as of October 22, 2026, after closing at $38.31 on the same day. The stock sits above its 50-day moving average of $37.29 but remains well below its 200-day moving average of $47.01. Shares trade 20.1% above their 52-week low of $31.97 and 45.5% below their 52-week high of $70.44.

Recent Earnings

NIKE, Inc. reported trailing-twelve-month revenue of $45.89 billion and basic earnings of $2.08 per share. The business recorded a net profit margin of 6.7% alongside a return on equity of 21.6%. Annual revenue declined 4.3% year over year. The company's next earnings report is scheduled for release on December 17, 2026.

Dividend

NIKE, Inc. pays an annual dividend rate of $1.64 per share, translating to a dividend yield of 4.37%. The company distributes 78.8% of its earnings as dividends to shareholders.

Insider Buying and Selling at NIKE, Inc.

Company insiders trimmed their holdings prior to the research note. President Amy Montagne sold 4,867 shares at an average price of $42.05 for a total value of $204,657 on August 7, 2026. Later, on September 9, 2026, officer Robert Leinwand sold 3,646 shares at $37.59 each for $137,053. Officer Philip Mccartney sold 2,559 shares at $37.59 apiece for $96,193 on the same day, while Chief Operating Officer Venkatesh Alagirisamy sold 3,671 shares at $37.59 for $137,993.

Analysts Set New Price Targets

Wall Street firms updated their outlooks around the same time. Freedom Broker upgraded the stock to a Buy rating on October 2, 2026, while lowering its price target from $54.00 to $51.00. Barclays maintained an Overweight rating on October 5, 2026, adjusting its target from $48.00 to $37.00, and later raised it to $45.00 on October 22, 2026. BTIG reiterated a Buy rating with a $50.00 target on October 22, 2026. Overall, 36 analyst opinions contribute to a consensus hold recommendation and a mean price target of $36.51.

About NIKE, Inc.

Headquartered in Beaverton, Oregon, NIKE, Inc. designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The enterprise offers products under well-known names like Jordan, Converse, and its namesake brand for customers across North America, Europe, Asia, and Latin America. Investors closely follow analyst updates as the company navigates shifting consumer demand in the footwear sector.

Bottom Line

Investors will watch how the stock performs heading into the next earnings release on December 17, 2026. Wolfe Research's new Underperform rating adds a cautious perspective alongside broader analyst coverage.