Meeder Advisory Services Inc. Purchases 1,122 Shares of NIKE, Inc. (NYSE:NKE)

Meeder Advisory Services Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,695 shares of the footwear maker’s stock after acquiring an additional 1,122 shares during the period. Meeder Advisory Services Inc.’s holdings in NIKE were worth $1,490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Heck Capital Advisors LLC bought a new stake in NIKE during the 4th quarter valued at approximately $28,000. Caitlin John LLC boosted its position in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the period. Roxbury Financial LLC bought a new stake in shares of NIKE in the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA grew its stake in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in NIKE during the fourth quarter worth $30,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NKE shares. Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Guggenheim reissued a “buy” rating and set a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Piper Sandler upgraded NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Evercore ISI reduced their price objective on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Finally, BMO Capital Markets decreased their price objective on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $87.38.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NYSE:NKE opened at $65.04 on Thursday. The business has a fifty day moving average of $73.66 and a 200-day moving average of $76.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a twelve month low of $58.91 and a twelve month high of $98.04. The firm has a market cap of $96.20 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter last year, the company posted $0.98 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.46%. The ex-dividend date was Monday, March 3rd. NIKE’s dividend payout ratio is 53.16%.

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.