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

Bank of New York Mellon Corp raised its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,988,207 shares of the footwear maker's stock after purchasing an additional 620,214 shares during the period. Bank of New York Mellon Corp owned 1.42% of NIKE worth $1,332,331,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock worth $2,749,903,000 after acquiring an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NIKE by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker's stock valued at $1,915,110,000 after purchasing an additional 347,178 shares during the last quarter. Capital World Investors raised its holdings in NIKE by 10.3% during the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after buying an additional 2,288,627 shares during the period. Norges Bank purchased a new stake in NIKE during the 4th quarter valued at $1,126,288,000. Finally, Northern Trust Corp lifted its position in NIKE by 8.8% in the fourth quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock worth $1,111,625,000 after buying an additional 1,183,641 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NKE. Stifel Nicolaus lowered their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Argus raised NIKE from a "hold" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Tuesday. Bank of America lifted their price objective on NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a report on Friday, June 27th. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a report on Friday, March 21st. Finally, HSBC raised shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, NIKE currently has an average rating of "Moderate Buy" and an average price target of $77.19.

NIKE Stock Performance

NKE stock traded down $0.11 during midday trading on Friday, reaching $76.28. The stock had a trading volume of 12,022,568 shares, compared to its average volume of 15,355,444. The firm has a fifty day simple moving average of $62.36 and a two-hundred day simple moving average of $67.49. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $90.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market cap of $112.83 billion, a PE ratio of 35.31, a P/E/G ratio of 2.77 and a beta of 1.25.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the prior year, the business earned $0.99 earnings per share. The business's quarterly revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. NIKE's payout ratio is 74.07%.

About NIKE

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.