Meridian Wealth Advisors LLC Sells 3,656 Shares of NIKE, Inc. (NYSE:NKE)

Meridian Wealth Advisors LLC lowered its holdings in shares of NIKE, Inc. (NYSE:NKE) by 42.9% during the first quarter, Holdings Channel reports. The firm owned 4,869 shares of the footwear maker’s stock after selling 3,656 shares during the period. Meridian Wealth Advisors LLC’s holdings in NIKE were worth $309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter valued at $28,000. EnRich Financial Partners LLC raised its holdings in NIKE by 196.4% in the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 273 shares during the period. Roxbury Financial LLC raised its holdings in NIKE by 52.1% in the 1st quarter. Roxbury Financial LLC now owns 587 shares of the footwear maker’s stock worth $37,000 after acquiring an additional 201 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its holdings in NIKE by 95.1% in the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 513 shares of the footwear maker’s stock worth $39,000 after acquiring an additional 250 shares during the period. Finally, Putney Financial Group LLC bought a new position in NIKE in the 4th quarter worth $40,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NKE. Wells Fargo & Company lifted their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 14th. Morgan Stanley lifted their target price on shares of NIKE from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, June 27th. Berenberg Bank began coverage on shares of NIKE in a report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 target price on the stock. UBS Group assumed coverage on shares of NIKE in a report on Sunday, July 6th. They issued a “buy” rating on the stock. Finally, Barclays raised their price target on shares of NIKE from $53.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $77.15.

NIKE Price Performance

NYSE:NKE opened at $72.50 on Friday. The firm has a market cap of $107.24 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 2.68 and a beta of 1.25. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $90.62. The company has a quick ratio of 1.50, a current ratio of 2.21 and a debt-to-equity ratio of 0.60. The company’s 50-day moving average price is $65.49 and its two-hundred day moving average price is $67.21.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The company had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The company’s revenue was down 11.9% on a year-over-year basis. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE’s dividend payout ratio is presently 74.07%.

NIKE 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.