Ontario Teachers Pension Plan Board increased its position in Nike Inc (NYSE:NKE) by 11.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 344,196 shares of the footwear maker’s stock after acquiring an additional 36,271 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Nike were worth $27,426,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Nike by 3.3% in the 1st quarter. BlackRock Inc. now owns 81,870,764 shares of the footwear maker’s stock worth $5,439,495,000 after purchasing an additional 2,649,041 shares during the period. Bank of New York Mellon Corp boosted its stake in Nike by 4.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,940,846 shares of the footwear maker’s stock worth $2,226,327,000 after purchasing an additional 1,273,548 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Nike by 1.4% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 17,523,005 shares of the footwear maker’s stock worth $1,164,228,000 after purchasing an additional 248,381 shares during the period. FMR LLC boosted its stake in Nike by 1.4% in the 2nd quarter. FMR LLC now owns 15,661,001 shares of the footwear maker’s stock worth $1,247,869,000 after purchasing an additional 219,743 shares during the period. Finally, Edgewood Management LLC boosted its stake in Nike by 2.6% in the 2nd quarter. Edgewood Management LLC now owns 15,500,497 shares of the footwear maker’s stock worth $1,235,080,000 after purchasing an additional 388,901 shares during the period. 64.02% of the stock is owned by institutional investors.

In related news, EVP Monique S. Matheson sold 17,000 shares of the stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $75.00, for a total transaction of $1,275,000.00. Following the sale, the executive vice president now owns 95,845 shares in the company, valued at approximately $7,188,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Hilary K. Krane sold 40,000 shares of the stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $76.51, for a total value of $3,060,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 512,778 shares of company stock worth $39,376,326 in the last 90 days. 3.90% of the stock is currently owned by insiders.

NKE has been the subject of several recent analyst reports. Credit Suisse Group restated a “buy” rating and issued a $78.00 price target on shares of Nike in a research note on Thursday, June 14th. Susquehanna Bancshares upgraded Nike from a “neutral” rating to a “positive” rating and upped their price target for the stock from $78.00 to $93.00 in a research note on Monday, August 20th. UBS Group downgraded Nike from a “buy” rating to a “neutral” rating and upped their price target for the stock from $76.00 to $78.00 in a research note on Thursday, June 21st. Wells Fargo & Co set a $82.00 price target on Nike and gave the stock a “neutral” rating in a research note on Monday, August 6th. Finally, DZ Bank restated a “sell” rating on shares of Nike in a research note on Friday, June 29th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $79.19.

NYSE:NKE opened at $81.40 on Friday. Nike Inc has a fifty-two week low of $50.35 and a fifty-two week high of $83.68. The firm has a market cap of $132.17 billion, a P/E ratio of 33.64, a P/E/G ratio of 2.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.63 and a current ratio of 2.51.

Nike (NYSE:NKE) last released its quarterly earnings results on Thursday, June 28th. The footwear maker reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Nike had a return on equity of 36.57% and a net margin of 5.31%. The company had revenue of $9.79 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. Nike’s quarterly revenue was up 12.8% compared to the same quarter last year. sell-side analysts forecast that Nike Inc will post 2.62 EPS for the current year.

Nike announced that its board has authorized a stock buyback plan on Thursday, June 28th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the footwear maker to reacquire up to 12.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Tuesday, September 4th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 31st. This represents a $0.80 annualized dividend and a yield of 0.98%. Nike’s payout ratio is presently 33.06%.

Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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