Mediolanum International Funds Ltd Buys 249,851 Shares of NIKE, Inc. $NKE

Mediolanum International Funds Ltd raised its stake in NIKE, Inc. (NYSE:NKE) by 434.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 307,370 shares of the footwear maker’s stock after purchasing an additional 249,851 shares during the period. Mediolanum International Funds Ltd’s holdings in NIKE were worth $21,378,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mascoma Wealth Management LLC acquired a new position in NIKE in the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in NIKE during the second quarter worth approximately $31,000. NewSquare Capital LLC boosted its holdings in shares of NIKE by 54.4% during the second quarter. NewSquare Capital LLC now owns 732 shares of the footwear maker’s stock worth $52,000 after acquiring an additional 258 shares during the period. Field & Main Bank grew its position in shares of NIKE by 36.4% in the second quarter. Field & Main Bank now owns 750 shares of the footwear maker’s stock valued at $53,000 after purchasing an additional 200 shares during the last quarter. Finally, Financial Consulate Inc. bought a new position in shares of NIKE during the third quarter worth approximately $57,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Down 1.2%

Shares of NKE opened at $61.84 on Friday. The firm has a 50 day simple moving average of $63.96 and a two-hundred day simple moving average of $68.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 1.40. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The company has a market cap of $91.55 billion, a P/E ratio of 36.38, a P/E/G ratio of 3.20 and a beta of 1.28.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 18th. The footwear maker reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.16. NIKE had a return on equity of 18.43% and a net margin of 5.43%.The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.19 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. NIKE’s revenue was up .6% on a year-over-year basis. Research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from NIKE’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, December 1st. NIKE’s dividend payout ratio (DPR) is currently 96.47%.

Insider Buying and Selling

In related news, Director Timothy D. Cook purchased 50,000 shares of NIKE stock in a transaction dated Monday, December 22nd. The shares were bought at an average cost of $58.97 per share, for a total transaction of $2,948,500.00. Following the purchase, the director owned 105,480 shares in the company, valued at approximately $6,220,155.60. This trade represents a 90.12% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Elliott Hill acquired 16,388 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were bought at an average price of $61.10 per share, with a total value of $1,001,306.80. Following the completion of the transaction, the chief executive officer owned 241,587 shares in the company, valued at $14,760,965.70. This represents a 7.28% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 91,229 shares of company stock worth $5,452,640 in the last quarter. Corporate insiders own 0.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NKE shares. Argus reduced their price target on NIKE from $85.00 to $70.00 in a research note on Tuesday, December 23rd. KeyCorp dropped their target price on NIKE from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price target on shares of NIKE from $100.00 to $86.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. Telsey Advisory Group lowered their price target on shares of NIKE from $75.00 to $72.00 and set a “market perform” rating on the stock in a research report on Friday, December 19th. Finally, UBS Group reissued a “neutral” rating on shares of NIKE in a report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.61.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).