Bank of New York Mellon Corp Buys 620,214 Shares of NIKE, Inc. (NYSE:NKE)

Bank of New York Mellon Corp boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 3.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,988,207 shares of the footwear maker's stock after acquiring 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 SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares during the period. Geode Capital Management LLC raised its holdings in 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 acquiring an additional 347,178 shares during the period. 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 acquiring an additional 2,288,627 shares during the period. Norges Bank bought a new stake in shares of NIKE during the 4th quarter valued at $1,126,288,000. Finally, Northern Trust Corp raised its stake in shares of NIKE by 8.8% during the 4th quarter. Northern Trust Corp now owns 14,690,435 shares of the footwear maker's stock valued at $1,111,625,000 after purchasing an additional 1,183,641 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Up 0.2%

Shares of NKE traded up $0.18 during mid-day trading on Monday, reaching $76.57. The company's stock had a trading volume of 17,282,720 shares, compared to its average volume of 15,363,206. The stock has a market cap of $113.26 billion, a PE ratio of 35.45, a P/E/G ratio of 2.77 and a beta of 1.25. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $90.62. The company's fifty day moving average price is $62.75 and its two-hundred day moving average price is $67.35.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Analysts Set New Price Targets

NKE has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Evercore ISI decreased their price target on NIKE from $97.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 24th. UBS Group started coverage on shares of NIKE in a report on Sunday. They issued a "buy" rating for the company. Williams Trading reduced their price target on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, April 21st. Finally, Needham & Company LLC boosted their price target on shares of NIKE from $66.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.19.

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.