Progressive Investment Management Corp lifted its stake in Nike, Inc. (NYSE:NKE) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,085 shares of the footwear maker’s stock after acquiring an additional 221 shares during the quarter. Nike accounts for about 2.3% of Progressive Investment Management Corp’s investment portfolio, making the stock its 21st largest holding. Progressive Investment Management Corp’s holdings in Nike were worth $2,896,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Scotland Group PLC grew its stake in shares of Nike by 6.2% in the first quarter. Royal Bank of Scotland Group PLC now owns 207,834 shares of the footwear maker’s stock worth $11,582,000 after acquiring an additional 12,201 shares during the period. North Star Asset Management Inc. grew its stake in shares of Nike by 7.8% in the first quarter. North Star Asset Management Inc. now owns 56,732 shares of the footwear maker’s stock worth $3,162,000 after acquiring an additional 4,129 shares during the period. Hartford Investment Management Co. grew its stake in shares of Nike by 5.5% in the second quarter. Hartford Investment Management Co. now owns 360,722 shares of the footwear maker’s stock worth $21,283,000 after acquiring an additional 18,759 shares during the period. WINTON GROUP Ltd grew its stake in shares of Nike by 2,434.9% in the first quarter. WINTON GROUP Ltd now owns 300,053 shares of the footwear maker’s stock worth $15,798,000 after acquiring an additional 288,216 shares during the period. Finally, Eastern Bank grew its stake in shares of Nike by 1.2% in the second quarter. Eastern Bank now owns 195,694 shares of the footwear maker’s stock worth $11,545,000 after acquiring an additional 2,342 shares during the period. Hedge funds and other institutional investors own 62.55% of the company’s stock.

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In other Nike news, Director Johnathan A. Rodgers sold 16,000 shares of Nike stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the completion of the transaction, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Andrew Campion sold 5,722 shares of Nike stock in a transaction dated Monday, July 24th. The shares were 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 directly owns 34,976 shares of the company’s stock, valued at $2,077,574.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,045 shares of company stock valued at $7,778,338. 3.90% of the stock is currently owned by corporate insiders.

Nike, Inc. (NKE) opened at 52.69 on Friday. The stock has a 50 day moving average of $52.55 and a 200-day moving average of $54.71. Nike, Inc. has a 12-month low of $49.01 and a 12-month high of $60.53. The company has a market capitalization of $85.96 billion, a PE ratio of 22.43 and a beta of 0.61.

Nike (NYSE:NKE) last issued its quarterly earnings data on Tuesday, September 26th. The footwear maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.09. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. Nike’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 EPS. Equities analysts expect that Nike, Inc. will post $2.32 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, August 31st. Nike’s dividend payout ratio is currently 30.64%.

NKE has been the subject of a number of research analyst reports. Jefferies Group LLC lowered shares of Nike to a “buy” rating in a research note on Tuesday, August 29th. Vetr lowered shares of Nike from a “strong-buy” rating to a “buy” rating and set a $59.57 target price for the company. in a research report on Monday, September 4th. Stifel Nicolaus restated a “buy” rating and set a $66.00 target price on shares of Nike in a research report on Friday, June 30th. Morgan Stanley upgraded shares of Nike from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $56.00 to $68.00 in a research report on Wednesday, July 19th. Finally, Telsey Advisory Group cut their target price on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Four investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $59.04.

Nike 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.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

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