Commerce Bank boosted its stake in Nike Inc. (NYSE:NKE) by 292.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 458,612 shares of the footwear maker’s stock after buying an additional 341,868 shares during the period. Commerce Bank’s holdings in Nike were worth $24,146,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DNB Asset Management AS raised its stake in shares of Nike by 3.9% in the second quarter. DNB Asset Management AS now owns 113,532 shares of the footwear maker’s stock valued at $6,267,000 after buying an additional 4,278 shares in the last quarter. British Columbia Investment Management Corp raised its stake in shares of Nike by 1.5% in the second quarter. British Columbia Investment Management Corp now owns 1,289,807 shares of the footwear maker’s stock valued at $71,197,000 after buying an additional 18,438 shares in the last quarter. Merriman Wealth Management LLC acquired a new stake in shares of Nike during the second quarter valued at approximately $2,056,000. Private Asset Management Inc. raised its stake in shares of Nike by 18.9% in the second quarter. Private Asset Management Inc. now owns 11,306 shares of the footwear maker’s stock valued at $624,000 after buying an additional 1,801 shares in the last quarter. Finally, Washington Trust Bank raised its stake in shares of Nike by 14.2% in the second quarter. Washington Trust Bank now owns 12,388 shares of the footwear maker’s stock valued at $684,000 after buying an additional 1,544 shares in the last quarter. 61.15% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Shares of Nike Inc. (NYSE:NKE) traded down 0.28% during midday trading on Wednesday, reaching $50.49. 1,436,301 shares of the company were exchanged. The company has a market capitalization of $84.09 billion, a PE ratio of 22.78 and a beta of 0.48. Nike Inc. has a 52-week low of $49.01 and a 52-week high of $68.19. The stock’s 50-day moving average price is $51.15 and its 200-day moving average price is $54.58.

Nike (NYSE:NKE) last issued its earnings results on Tuesday, September 27th. The footwear maker reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.17. Nike had a net margin of 11.60% and a return on equity of 30.56%. The business had revenue of $9.06 billion for the quarter. During the same period in the prior year, the business posted $1.34 EPS. The business’s revenue was up 7.7% on a year-over-year basis. Analysts anticipate that Nike Inc. will post $2.37 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 5th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.42%. This is a positive change from Nike’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Thursday, December 1st. Nike’s dividend payout ratio (DPR) is presently 28.83%.

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NKE has been the subject of several analyst reports. Piper Jaffray Cos. reiterated a “neutral” rating and set a $53.00 price objective on shares of Nike in a report on Wednesday, October 12th. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.41 target price for the company in a research note on Tuesday, November 1st. Stifel Nicolaus restated a “buy” rating and issued a $68.00 target price on shares of Nike in a research note on Friday, August 26th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $62.00 target price on shares of Nike in a research note on Tuesday, September 27th. Finally, Goldman Sachs Group Inc. restated a “buy” rating and issued a $66.00 target price on shares of Nike in a research note on Sunday, September 25th. One analyst has rated the stock with a sell rating, eleven have issued 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 $63.43.

In other news, Director John C. Lechleiter purchased 1,000 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was acquired at an average cost of $52.72 per share, with a total value of $52,720.00. Following the acquisition, the director now owns 27,560 shares in the company, valued at $1,452,963.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 150,000 shares of the firm’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $49.78, for a total transaction of $7,467,000.00. Following the sale, the chairman now directly owns 1,985,225 shares of the company’s stock, valued at $98,824,500.50. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.

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.

5 Day Chart for NYSE:NKE

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