6 Meridian Raises Position in Nike Inc (NYSE:NKE)

6 Meridian grew its holdings in shares of Nike Inc (NYSE:NKE) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,360 shares of the footwear maker’s stock after purchasing an additional 769 shares during the quarter. 6 Meridian’s holdings in Nike were worth $7,641,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. HCR Wealth Advisors raised its position in shares of Nike by 1.8% in the 2nd quarter. HCR Wealth Advisors now owns 13,980 shares of the footwear maker’s stock worth $1,174,000 after buying an additional 250 shares during the period. Bank of Nova Scotia raised its position in shares of Nike by 25.7% in the 2nd quarter. Bank of Nova Scotia now owns 375,971 shares of the footwear maker’s stock worth $30,799,000 after buying an additional 76,852 shares during the period. Chicago Capital LLC raised its position in shares of Nike by 33.8% in the 2nd quarter. Chicago Capital LLC now owns 14,988 shares of the footwear maker’s stock worth $1,258,000 after buying an additional 3,789 shares during the period. Whitener Capital Management Inc. raised its position in shares of Nike by 9.3% in the 2nd quarter. Whitener Capital Management Inc. now owns 34,586 shares of the footwear maker’s stock worth $2,903,000 after buying an additional 2,950 shares during the period. Finally, BB&T Corp raised its position in shares of Nike by 2.7% in the 2nd quarter. BB&T Corp now owns 42,415 shares of the footwear maker’s stock worth $3,561,000 after buying an additional 1,124 shares during the period. 65.35% of the stock is currently owned by institutional investors.

Shares of Nike stock opened at $95.60 on Wednesday. The business has a 50-day moving average of $90.79 and a 200-day moving average of $86.01. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.01 and a quick ratio of 1.29. The company has a market capitalization of $150.02 billion, a PE ratio of 38.39, a P/E/G ratio of 2.55 and a beta of 0.85. Nike Inc has a 1-year low of $66.53 and a 1-year high of $96.87.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 24th. The footwear maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.15. The company had revenue of $10.66 billion during the quarter, compared to the consensus estimate of $10.43 billion. Nike had a return on equity of 47.92% and a net margin of 10.81%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. On average, equities analysts expect that Nike Inc will post 2.97 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.22 per share. The ex-dividend date was Friday, August 30th. This represents a $0.88 annualized dividend and a dividend yield of 0.92%. Nike’s payout ratio is 35.34%.

In other news, Director John C. Lechleiter sold 5,406 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $87.13, for a total transaction of $471,024.78. Following the transaction, the director now owns 68,457 shares of the company’s stock, valued at $5,964,658.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elliott Hill sold 3,228 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $87.07, for a total transaction of $281,061.96. The disclosure for this sale can be found here. Insiders have sold 505,579 shares of company stock worth $45,961,980 in the last ninety days. Corporate insiders own 3.80% of the company’s stock.

Several research analysts recently weighed in on NKE shares. Goldman Sachs Group set a $95.00 target price on Nike and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Stifel Nicolaus set a $106.00 price target on Nike and gave the company a “buy” rating in a report on Friday, October 11th. Wells Fargo & Co increased their price target on Nike from $85.00 to $91.00 and gave the company a “market perform” rating in a report on Wednesday, September 25th. They noted that the move was a valuation call. Guggenheim reiterated a “buy” rating on shares of Nike in a report on Tuesday. Finally, Deutsche Bank set a $105.00 price target on Nike and gave the company a “buy” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $96.98.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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