Bank of New York Mellon Corp raised its position in shares of Nike Inc. (NYSE:NKE) by 0.5% during the third quarter, according to its most recent filing with the SEC. The fund owned 29,211,934 shares of the footwear maker’s stock after buying an additional 143,272 shares during the period. Bank of New York Mellon Corp owned 1.75% of Nike worth $1,538,008,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of NKE. SevenBridge Financial Group LLC acquired a new stake in Nike during the second quarter worth approximately $100,000. Cribstone Capital Management LLC acquired a new stake in Nike during the second quarter worth approximately $106,000. Gierl Augustine Investment Management Inc boosted its stake in Nike by 0.3% in the second quarter. Gierl Augustine Investment Management Inc now owns 2,003 shares of the footwear maker’s stock worth $111,000 after buying an additional 6 shares in the last quarter. Banced Corp acquired a new stake in Nike during the second quarter worth approximately $258,000. Finally, CWM LLC boosted its stake in Nike by 0.3% in the second quarter. CWM LLC now owns 2,227 shares of the footwear maker’s stock worth $123,000 after buying an additional 7 shares in the last quarter. 62.90% of the stock is currently owned by institutional investors and hedge funds.
Nike Inc. (NYSE:NKE) traded up 0.35% during mid-day trading on Friday, reaching $51.52. 2,736,767 shares of the company’s stock were exchanged. The stock has a market capitalization of $85.80 billion, a PE ratio of 23.25 and a beta of 0.48. The firm’s 50-day moving average is $51.21 and its 200 day moving average is $54.73. Nike Inc. has a 1-year low of $49.01 and a 1-year high of $68.19.
Nike (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.17. The company had revenue of $9.06 billion for the quarter. Nike had a net margin of 11.60% and a return on equity of 30.56%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.34 earnings per share. Analysts forecast that Nike Inc. will post $2.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 5th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This is a positive change from Nike’s previous quarterly dividend of $0.16. This represents a $0.72 dividend on an annualized basis and a yield of 1.40%. Nike’s payout ratio is currently 28.83%.
NKE has been the topic of several research reports. B. Riley cut Nike to a “neutral” rating and set a $62.00 target price on the stock. in a report on Wednesday, August 31st. Vetr raised Nike from a “sell” rating to a “hold” rating and set a $54.01 target price on the stock in a report on Wednesday, August 3rd. Piper Jaffray Cos. set a $58.00 target price on Nike and gave the stock a “hold” rating in a report on Thursday, September 22nd. Brean Capital reaffirmed a “hold” rating on shares of Nike in a report on Wednesday, November 9th. Finally, Wedbush initiated coverage on Nike in a report on Tuesday, November 1st. They issued a “neutral” rating and a $53.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $63.43.
In other news, Director John C. Lechleiter bought 1,000 shares of the stock in a transaction dated Friday, September 30th. The shares were acquired at an average price of $52.72 per share, with a total value of $52,720.00. Following the completion of the acquisition, the director now directly owns 27,560 shares in the company, valued at $1,452,963.20. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of Nike stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $49.78, for a total transaction of $7,467,000.00. Following the completion of the sale, the chairman now directly owns 1,985,225 shares in the company, valued at approximately $98,824,500.50. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by company insiders.