Mcrae Capital Management Inc. raised its stake in shares of Nike, Inc. (NYSE:NKE) by 2.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 3,842 shares of the footwear maker’s stock after buying an additional 100 shares during the period. Mcrae Capital Management Inc.’s holdings in Nike were worth $227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Nike by 1.4% during the 1st 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 last quarter. Wellington Management Group LLP raised its stake in shares of Nike by 5.0% during the 1st 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 last quarter. Bank of New York Mellon Corp raised its stake in shares of Nike by 0.5% during the 1st 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 last quarter. Jennison Associates LLC increased its stake in shares of Nike by 124.7% in the 1st quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after purchasing an additional 13,953,567 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Nike by 9.8% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,679,290 shares of the footwear maker’s stock valued at $706,617,000 after purchasing an additional 1,130,409 shares in the last quarter. Institutional investors and hedge funds own 62.72% of the company’s stock.

Several equities analysts recently weighed in on NKE shares. Morgan Stanley restated a “buy” rating and issued a $64.00 price target (down previously from $68.00) on shares of Nike in a research note on Tuesday, August 29th. Telsey Advisory Group cut their price target on Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price target for the company in a research note on Wednesday, September 6th. Cowen and Company set a $54.00 price target on Nike and gave the company a “hold” rating in a research note on Friday, August 4th. Finally, Canaccord Genuity set a $51.00 price target on Nike and gave the company a “hold” rating in a research note on Friday, May 26th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $60.66.

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In related news, CFO Andrew Campion sold 5,722 shares of Nike stock in a transaction on Monday, July 24th. The shares were sold at an average price of $59.40, for a total transaction of $339,886.80. Following the transaction, the chief financial officer now owns 34,976 shares in the company, valued at approximately $2,077,574.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Hilary K. Krane sold 28,072 shares of Nike stock in a transaction on Friday, July 14th. The shares were sold at an average price of $58.10, for a total transaction of $1,630,983.20. Following the transaction, the chief accounting officer now owns 177,723 shares in the company, valued at approximately $10,325,706.30. The disclosure for this sale can be found here. Insiders have sold a total of 492,360 shares of company stock worth $28,485,174 in the last 90 days. Company insiders own 3.90% of the company’s stock.

Shares of Nike, Inc. (NKE) opened at 53.40 on Wednesday. The stock has a market cap of $87.75 billion, a price-to-earnings ratio of 21.27 and a beta of 0.61. Nike, Inc. has a 52-week low of $49.01 and a 52-week high of $60.53. The stock’s 50 day moving average price is $56.46 and its 200-day moving average price is $55.56.

Nike (NYSE:NKE) last posted its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The business had revenue of $8.68 billion for 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%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. On average, analysts predict that Nike, Inc. will post $2.41 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Tuesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.35%. Nike’s payout ratio is 28.69%.

Nike Company Profile

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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