NIKE, Inc. (NYSE:NKE) Stake Lessened by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its holdings in NIKE, Inc. (NYSE:NKE) by 31.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 692 shares of the footwear maker’s stock after selling 317 shares during the period. Meeder Asset Management Inc.’s holdings in NIKE were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of NKE. Transcendent Capital Group LLC lifted its holdings in shares of NIKE by 97.6% in the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC increased its stake in shares of NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in shares of NIKE in the second quarter worth $44,000. Finally, MFA Wealth Advisors LLC acquired a new position in NIKE during the second quarter worth $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Down 0.8 %

Shares of NIKE stock opened at $73.33 on Thursday. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39. The firm has a market cap of $109.95 billion, a PE ratio of 21.01, a PEG ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The company has a 50 day simple moving average of $80.61 and a two-hundred day simple moving average of $82.83.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.94 EPS. Analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is presently 45.85%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and upped their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Telsey Advisory Group dropped their price objective on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a report on Wednesday, October 2nd. Bank of America lowered their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.30.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.