State Street Corp boosted its stake in Nike, Inc. (NYSE:NKE) by 1.4% during the first quarter, Holdings Channel reports. The institutional investor owned 59,554,253 shares of the footwear maker’s stock after buying an additional 835,003 shares during the period. State Street Corp’s holdings in Nike were worth $3,319,086,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in Nike by 5.0% in the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock valued at $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Nike by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 29,087,830 shares of the footwear maker’s stock worth $1,621,066,000 after buying an additional 144,846 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock worth $1,401,251,000 after buying an additional 13,953,567 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nike by 9.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock worth $706,617,000 after buying an additional 1,130,409 shares in the last quarter. Finally, Edgewood Management LLC raised its stake in shares of Nike by 3.9% in the first quarter. Edgewood Management LLC now owns 11,873,490 shares of the footwear maker’s stock worth $661,710,000 after buying an additional 441,507 shares in the last quarter. Institutional investors and hedge funds own 64.77% of the company’s stock.

Nike, Inc. (NYSE NKE) traded up 0.10% during trading on Friday, reaching $59.13. 1,853,019 shares of the company’s stock were exchanged. The company has a market cap of $97.16 billion, a P/E ratio of 23.56 and a beta of 0.59. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The stock’s 50-day moving average is $57.77 and its 200-day moving average is $55.57.

Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, June 29th. The footwear maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. Nike’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 earnings per share. Analysts predict that Nike, Inc. will post $2.42 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.22%. Nike’s dividend payout ratio is currently 28.69%.

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A number of analysts have weighed in on NKE shares. Stifel Nicolaus set a $66.00 price target on shares of Nike and gave the company a “buy” rating in a research note on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 target price on shares of Nike and gave the stock a “hold” rating in a research note on Saturday, July 22nd. Guggenheim reissued a “buy” rating and set a $70.00 target price on shares of Nike in a research note on Monday, July 24th. Cowen and Company set a $54.00 target price on shares of Nike and gave the stock a “hold” rating in a research note on Friday, August 4th. Finally, Barclays PLC reissued an “overweight” rating and set a $65.00 target price on shares of Nike in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $61.04.

In other news, insider Eric D. Sprunk sold 50,000 shares of the business’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $59.00, for a total transaction of $2,950,000.00. Following the completion of the sale, the insider now directly owns 300,108 shares of the company’s stock, valued at $17,706,372. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Trevor A. Edwards sold 200,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the sale, the insider now directly owns 729,610 shares of the company’s stock, valued at $42,047,424.30. The disclosure for this sale can be found here. Insiders have sold 492,360 shares of company stock valued at $28,485,174 over the last three months. Insiders own 3.90% of the company’s stock.

About Nike

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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