Bank of New York Mellon Corp Has $803.05 Million Stock Holdings in NIKE, Inc. $NKE

Bank of New York Mellon Corp trimmed its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,203,475 shares of the footwear maker's stock after selling 569,049 shares during the period. Bank of New York Mellon Corp owned about 1.03% of NIKE worth $803,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NKE. Vanguard Group Inc. grew its holdings in NIKE by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock worth $7,453,658,000 after buying an additional 1,702,342 shares in the last quarter. State Street Corp lifted its stake in NIKE by 2.2% during the 4th quarter. State Street Corp now owns 59,315,606 shares of the footwear maker's stock valued at $3,802,807,000 after acquiring an additional 1,275,494 shares in the last quarter. Capital World Investors lifted its stake in NIKE by 16.2% during the 4th quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker's stock valued at $3,126,246,000 after acquiring an additional 6,830,938 shares in the last quarter. J. Stern & Co. LLP boosted its holdings in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker's stock worth $3,061,555,000 after acquiring an additional 47,956,692 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker's stock worth $1,677,251,000 after acquiring an additional 233,925 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president directly owned 53,133 shares in the company, valued at $2,453,681.94. The trade was a 24.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent analyst reports. Robert W. Baird reiterated an "outperform" rating and issued a $70.00 target price on shares of NIKE in a research note on Wednesday, July 1st. DA Davidson cut shares of NIKE from a "buy" rating to a "neutral" rating and cut their price target for the stock from $72.00 to $46.00 in a report on Thursday, April 2nd. Wall Street Zen raised shares of NIKE from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Sanford C. Bernstein set a $72.00 price objective on shares of NIKE and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Finally, Bank of America decreased their price objective on shares of NIKE from $55.00 to $47.00 and set a "neutral" rating for the company in a research note on Wednesday, July 1st. Thirteen investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, NIKE currently has a consensus rating of "Hold" and an average target price of $54.80.

NIKE Stock Performance

NYSE NKE opened at $44.49 on Friday. NIKE, Inc. has a 52-week low of $40.00 and a 52-week high of $80.17. The company has a 50-day simple moving average of $43.68 and a 200 day simple moving average of $51.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. The company has a market capitalization of $65.89 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 2.47 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The company's quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.14 earnings per share. On average, research analysts predict that NIKE, Inc. will post 1.76 EPS for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, June 1st. NIKE's dividend payout ratio (DPR) is currently 78.47%.

About NIKE

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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