Metropolitan Life Insurance Co. NY cut its holdings in shares of Nike, Inc. (NYSE:NKE) by 2.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 708,942 shares of the footwear maker’s stock after selling 15,133 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Nike were worth $39,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Accredited Investors Inc. lifted its position in Nike by 0.5% during the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock valued at $232,000 after purchasing an additional 19 shares during the period. Montecito Bank & Trust lifted its position in Nike by 0.3% during the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock valued at $402,000 after purchasing an additional 24 shares during the period. Intrust Bank NA lifted its position in Nike by 0.9% during the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 46 shares during the period. Welch & Forbes LLC lifted its position in Nike by 0.5% during the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock valued at $557,000 after purchasing an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Nike by 0.5% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock valued at $543,000 after purchasing an additional 50 shares during the period. Institutional investors own 62.72% of the company’s stock.

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In other Nike news, CFO Andrew Campion sold 96,243 shares of Nike stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the transaction, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at $2,847,943.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Trevor A. Edwards sold 200,000 shares of Nike stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $57.63, for a total transaction of $11,526,000.00. Following the transaction, the insider now directly owns 729,610 shares in the company, valued at $42,047,424.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 492,360 shares of company stock worth $28,485,174. 3.90% of the stock is currently owned by corporate insiders.

NKE has been the subject of a number of research reports. Jefferies Group LLC downgraded shares of Nike to a “buy” rating in a research report on Tuesday, August 29th. Berenberg Bank initiated coverage on shares of Nike in a research report on Tuesday, May 16th. They set a “buy” rating and a $70.00 target price for the company. 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, Vetr downgraded 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, August 28th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Nike currently has an average rating of “Buy” and an average price target of $60.43.

Shares of Nike, Inc. (NYSE NKE) traded down 0.36% during midday trading on Friday, reaching $52.20. 8,563,283 shares of the company traded hands. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The company’s 50 day moving average is $56.66 and its 200-day moving average is $55.62. The stock has a market capitalization of $85.77 billion, a price-to-earnings ratio of 20.80 and a beta of 0.61.

Nike (NYSE:NKE) last announced its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The firm had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.63 billion. Nike had a net margin of 12.34% and a return on equity of 34.18%. Nike’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. Equities research analysts forecast that Nike, Inc. will post $2.41 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.38%. Nike’s dividend payout ratio (DPR) is 28.69%.

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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