Nike, Inc. (NKE) Stake Increased by Honeywell International Inc.

Honeywell International Inc. boosted its stake in shares of Nike, Inc. (NYSE:NKE) by 19.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 342,388 shares of the footwear maker’s stock after buying an additional 55,388 shares during the period. Honeywell International Inc.’s holdings in Nike were worth $19,081,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. State Street Corp increased its stake in Nike by 4.6% in the fourth quarter. State Street Corp now owns 58,719,250 shares of the footwear maker’s stock valued at $2,984,719,000 after buying an additional 2,563,166 shares in the last quarter. Jennison Associates LLC increased its stake in Nike by 124.7% in the first quarter. Jennison Associates LLC now owns 25,143,559 shares of the footwear maker’s stock valued at $1,401,251,000 after buying an additional 13,953,567 shares in the last quarter. Edgewood Management LLC increased its stake in Nike by 1.4% in the fourth quarter. Edgewood Management LLC now owns 11,431,983 shares of the footwear maker’s stock valued at $581,088,000 after buying an additional 160,106 shares in the last quarter. Polen Capital Management LLC increased its stake in Nike by 5.8% in the fourth quarter. Polen Capital Management LLC now owns 10,410,133 shares of the footwear maker’s stock valued at $529,147,000 after buying an additional 566,551 shares in the last quarter. Finally, Norges Bank purchased a new stake in Nike during the fourth quarter valued at about $463,411,000. Hedge funds and other institutional investors own 65.55% of the company’s stock.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Nike, Inc. (NKE) opened at 53.46 on Monday. The stock has a market capitalization of $88.25 billion, a P/E ratio of 22.30 and a beta of 0.47. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.33. The stock’s 50 day moving average price is $53.63 and its 200-day moving average price is $54.09.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, March 21st. The footwear maker reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.15. Nike had a return on equity of 32.97% and a net margin of 12.02%. The firm had revenue of $8.43 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the previous year, the company earned $0.55 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts expect that Nike, Inc. will post $2.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Monday, June 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Thursday, June 1st. This represents a $0.72 annualized dividend and a yield of 1.35%. Nike’s payout ratio is 30.00%.

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NKE has been the topic of several research analyst reports. Piper Jaffray Companies reiterated a “neutral” rating and issued a $51.00 price objective on shares of Nike in a report on Thursday, March 16th. Credit Suisse Group set a $67.00 price objective on Nike and gave the company a “buy” rating in a report on Tuesday, March 14th. Vetr downgraded Nike from a “strong-buy” rating to a “buy” rating and set a $60.36 price objective on the stock. in a report on Monday, March 27th. Barclays PLC reiterated an “overweight” rating and issued a $65.00 price objective on shares of Nike in a report on Wednesday, March 22nd. Finally, FBR & Co reiterated a “market perform” rating and issued a $53.00 price objective on shares of Nike in a report on Wednesday, March 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.78.

In other news, Director John C. Lechleiter bought 1,000 shares of the company’s stock in a transaction that occurred on Friday, March 24th. The shares were purchased at an average price of $56.30 per share, with a total value of $56,300.00. Following the completion of the acquisition, the director now directly owns 28,660 shares in the company, valued at $1,613,558. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $55.50, for a total value of $5,550,000.00. Following the sale, the chairman now directly owns 1,966,235 shares in the company, valued at approximately $109,126,042.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 379,000 shares of company stock worth $21,213,800. 3.90% of the stock is owned by corporate insiders.

About Nike

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NKE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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