Bank of New York Mellon Corp Purchases 620,214 Shares of 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% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 20,988,207 shares of the footwear maker's stock after purchasing an additional 620,214 shares during the quarter. Bank of New York Mellon Corp owned 1.42% of NIKE worth $1,332,331,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth about $28,000. LFA Lugano Financial Advisors SA increased its holdings in shares of NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after purchasing an additional 210 shares during the period. Hopwood Financial Services Inc. bought a new position in shares of NIKE during the 4th quarter worth about $30,000. EnRich Financial Partners LLC increased its stake in NIKE by 196.4% in the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker's stock valued at $31,000 after acquiring an additional 273 shares during the period. Finally, Roxbury Financial LLC increased its stake in NIKE by 52.1% in the first quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker's stock valued at $37,000 after acquiring an additional 201 shares during the period. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Bank of America upped their target price on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Williams Trading lowered their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Royal Bank Of Canada lowered their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Truist Financial reduced their price target on shares of NIKE from $82.00 to $73.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. Finally, Morgan Stanley boosted their price target on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.19.

NIKE Price Performance

Shares of NKE stock traded down $0.11 during trading hours on Friday, reaching $76.28. 12,022,568 shares of the company were exchanged, compared to its average volume of 15,355,444. The stock's fifty day moving average is $62.36 and its two-hundred day moving average is $67.35. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. The company has a market cap of $112.83 billion, a price-to-earnings ratio of 35.31, a P/E/G ratio of 2.77 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period in the prior year, the business posted $0.99 earnings per share. NIKE's revenue was down 11.9% compared to the same quarter last year. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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

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.