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

Bank of New York Mellon Corp raised its position in NIKE, Inc. (NYSE:NKE) by 18.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,367,993 shares of the footwear maker’s stock after acquiring an additional 3,121,929 shares during the quarter. Bank of New York Mellon Corp’s holdings in NIKE were worth $1,541,246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Range Financial Group LLC acquired a new position in shares of NIKE in the fourth quarter valued at approximately $642,000. Cacti Asset Management LLC acquired a new position in shares of NIKE in the fourth quarter worth $9,987,000. Capricorn Fund Managers Ltd purchased a new stake in shares of NIKE during the fourth quarter worth $5,384,000. Klein Pavlis & Peasley Financial Inc. increased its position in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after acquiring an additional 6,124 shares during the period. Finally, FNY Investment Advisers LLC raised its stake in shares of NIKE by 5,745.9% in the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock valued at $654,000 after acquiring an additional 8,504 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NKE. Citigroup downgraded NIKE from a “buy” rating to a “neutral” rating and cut their price target for the stock from $102.00 to $72.00 in a report on Friday, February 7th. JPMorgan Chase & Co. cut their target price on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Wells Fargo & Company decreased their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. Telsey Advisory Group reiterated a “market perform” rating and set a $80.00 price target on shares of NIKE in a report on Wednesday, February 19th. Finally, Morgan Stanley reduced their price objective on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average price target of $89.77.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. bought 2,500 shares of NIKE stock in a transaction dated 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 purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction dated Friday, February 14th. The shares were 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 in the company, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

NIKE Trading Up 5.0 %

NYSE NKE opened at $80.32 on Tuesday. The firm’s fifty day moving average is $74.37 and its two-hundred day moving average is $78.21. NIKE, Inc. has a one year low of $68.62 and a one year high of $106.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The firm has a market cap of $118.80 billion, a PE ratio of 24.79, a P/E/G ratio of 2.52 and a beta of 1.01.

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

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

NIKE Company 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.