Mediolanum International Funds Ltd boosted its holdings in NIKE, Inc. during the third quarter, acquiring an additional 249,851 shares and raising its total position to 307,370 shares. This represents a 434.4% increase in the fund’s stake. At quarter end, the position was valued at $21.38 million, reflecting the fund’s conviction in NIKE’s long-term growth prospects through both wholesale and direct-to-consumer channels.

During the same period, Truist Financial Corp reduced its NIKE share count by 5.4%, selling 20,453 shares and ending the quarter with 356,632 shares on its books. The remaining holding was valued at $24.87 million. This adjustment follows a broader trend in the second quarter where several large institutional investors reallocated capital, including Norges Bank’s new $835 million stake and DZ Bank’s acquisition of 8.8 million shares valued at $645.9 million.

In late December, NIKE reported quarterly revenue of $12.43 billion, a 0.6% year-over-year increase, and earnings per share of $0.53, beating consensus estimates by $0.16. Net margin stood at 5.43% and return on equity at 18.43%. The company also raised its quarterly dividend from $0.40 to $0.41 per share, equating to an annualized payout of $1.64 and a dividend yield of 2.7%, with a payout ratio nearing 96.5%.

Two senior executives increased their NIKE holdings in December. Director Timothy D. Cook acquired 50,000 shares at an average cost of $58.97 per share for a total of $2.95 million, raising his stake to 105,480 shares. CEO Elliott Hill purchased 16,388 shares at $61.10 per share, investing $1.00 million and bringing his total holdings to 241,587 shares. Insider purchases totaled 91,229 shares for $5.45 million during the quarter, representing 0.80% ownership by corporate insiders.