SOL Capital Management CO raised its position in Nike, Inc. (NYSE:NKE) by 21.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,032 shares of the footwear maker’s stock after buying an additional 2,300 shares during the period. SOL Capital Management CO’s holdings in Nike were worth $769,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in Nike by 1.4% in the first quarter. State Street Corp now owns 59,554,253 shares of the footwear maker’s stock valued at $3,319,086,000 after buying an additional 835,003 shares during the period. Wellington Management Group LLP boosted 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 during the period. Bank of New York Mellon Corp boosted its stake in 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 valued at $1,621,066,000 after buying an additional 144,846 shares during the period. Jennison Associates LLC boosted its stake in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in 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 valued at $706,617,000 after buying an additional 1,130,409 shares during the period. Hedge funds and other institutional investors own 63.47% of the company’s stock.

Shares of Nike, Inc. (NYSE NKE) traded down 4.30% on Friday, reaching $54.99. 15,585,844 shares of the company’s stock were exchanged. The company has a market capitalization of $90.36 billion, a P/E ratio of 21.91 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 firm’s 50 day moving average price is $58.59 and its 200-day moving average price is $55.75. Nike also was the recipient of unusually large options trading on Tuesday. Stock traders bought 10,309 put options on the company. This represents an increase of approximately 171% compared to the typical daily volume of 3,808 put options.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a $0.18 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.25%. Nike’s dividend payout ratio is currently 28.69%.

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NKE has been the subject of several recent analyst reports. Berenberg Bank restated a “buy” rating and issued a $70.00 target price on shares of Nike in a research note on Wednesday, June 14th. Instinet restated a “buy” rating on shares of Nike in a research note on Monday, May 15th. Nomura restated a “buy” rating on shares of Nike in a research note on Monday, May 15th. Jefferies Group LLC restated a “buy” rating and issued a $75.00 target price on shares of Nike in a research note on Monday, May 15th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $64.00 target price on shares of Nike in a research note on Saturday, April 22nd. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $61.04.

In related news, insider Eric D. Sprunk sold 50,000 shares of the stock in a transaction that occurred on Friday, June 30th. The stock was sold at an average price of $59.00, for a total value of $2,950,000.00. Following the transaction, the insider now owns 300,108 shares in the company, valued at $17,706,372. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew Campion sold 5,722 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the transaction, the chief financial officer now owns 34,976 shares in the company, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock worth $28,485,174 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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