NIKE, Inc. $NKE Stock Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 11.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,772,524 shares of the footwear maker’s stock after selling 1,940,840 shares during the quarter. Bank of New York Mellon Corp’s holdings in NIKE were worth $1,004,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Guerra Advisors Inc acquired a new stake in shares of NIKE during the 3rd quarter valued at $34,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of NIKE during the 3rd quarter valued at $35,000. Accredited Wealth Management LLC lifted its position in shares of NIKE by 268.6% during the 3rd quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker’s stock valued at $36,000 after acquiring an additional 376 shares during the last quarter. Strive Asset Management LLC acquired a new stake in shares of NIKE during the 3rd quarter valued at $40,000. Finally, Matrix Trust Co lifted its position in shares of NIKE by 43.6% during the 4th quarter. Matrix Trust Co now owns 596 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 181 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In related news, Director John W. Rogers, Jr. purchased 4,000 shares of NIKE stock in a transaction on Thursday, April 9th. The stock was bought at an average price of $43.34 per share, with a total value of $173,360.00. Following the completion of the transaction, the director directly owned 41,022 shares of the company’s stock, valued at approximately $1,777,893.48. This represents a 10.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Elliott Hill purchased 23,660 shares of NIKE stock in a transaction on Monday, April 13th. The stock was bought at an average cost of $42.27 per share, with a total value of $1,000,108.20. Following the transaction, the chief executive officer directly owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 64,441 shares of company stock worth $2,734,204 over the last ninety days. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. UBS Group cut their price objective on NIKE from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, April 1st. Williams Trading cut their price objective on NIKE from $80.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, April 1st. HSBC downgraded NIKE from a “buy” rating to a “hold” rating and cut their price objective for the company from $90.00 to $48.00 in a research report on Monday, April 13th. Barclays cut their price objective on NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Finally, Robert W. Baird cut their price objective on NIKE from $85.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.04.

NIKE Price Performance

NKE opened at $43.72 on Wednesday. The stock has a market cap of $64.75 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 1.96 and a beta of 1.12. NIKE, Inc. has a 1 year low of $41.35 and a 1 year high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The stock has a fifty day moving average price of $45.60 and a 200 day moving average price of $56.61.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the company earned $0.54 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.8%. NIKE’s payout ratio is currently 108.61%.

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).