Bank of New York Mellon Corp Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Bank of New York Mellon Corp boosted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,367,993 shares of the footwear maker’s stock after purchasing an additional 3,121,929 shares during the period. Bank of New York Mellon Corp owned about 1.38% of NIKE worth $1,541,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in NIKE by 20.9% during the third quarter. Allworth Financial LP now owns 12,431 shares of the footwear maker’s stock valued at $1,099,000 after acquiring an additional 2,148 shares in the last quarter. NorthCrest Asset Manangement LLC increased its holdings in shares of NIKE by 12.8% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,378 shares of the footwear maker’s stock valued at $299,000 after purchasing an additional 383 shares in the last quarter. Modera Wealth Management LLC increased its holdings in shares of NIKE by 8.8% during the 3rd quarter. Modera Wealth Management LLC now owns 8,983 shares of the footwear maker’s stock valued at $794,000 after purchasing an additional 727 shares in the last quarter. Carret Asset Management LLC lifted its stake in shares of NIKE by 16.4% in the 3rd quarter. Carret Asset Management LLC now owns 5,400 shares of the footwear maker’s stock valued at $477,000 after purchasing an additional 760 shares during the period. Finally, J.W. Cole Advisors Inc. boosted its holdings in NIKE by 7.7% during the third quarter. J.W. Cole Advisors Inc. now owns 12,029 shares of the footwear maker’s stock worth $1,063,000 after buying an additional 858 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction that occurred on Friday, December 27th. The stock was bought at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. 1.10% of the stock is owned by insiders.

NIKE Trading Up 5.0 %

Shares of NKE stock opened at $80.32 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $68.62 and a twelve month high of $106.10. The company’s 50-day moving average price is $74.37 and its 200-day moving average price is $78.21. The stock has a market cap of $118.80 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 2.52 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. NIKE’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 1.99%. NIKE’s payout ratio is 49.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada reduced their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Evercore ISI dropped their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a report on Monday, December 16th. Barclays cut their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, BMO Capital Markets increased their target price on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.77.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.