Meeder Advisory Services Inc. Sells 789 Shares of NIKE, Inc. (NYSE:NKE)

Meeder Advisory Services Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,573 shares of the footwear maker’s stock after selling 789 shares during the quarter. Meeder Advisory Services Inc.’s holdings in NIKE were worth $1,642,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Transcendent Capital Group LLC raised its position 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 during the period. VitalStone Financial LLC raised its holdings in NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC lifted its position in NIKE by 272.5% during 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 bought a new stake in shares of NIKE during the second quarter worth approximately $44,000. Finally, Riverview Trust Co acquired a new position in shares of NIKE in the third quarter valued at approximately $52,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on NKE. Bank of America lowered their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Daiwa America lowered shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. JPMorgan Chase & Co. lowered their target price on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $96.30.

NIKE Price Performance

NIKE stock opened at $74.86 on Tuesday. The company has a market capitalization of $112.24 billion, a PE ratio of 21.45, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $80.79 and a two-hundred day moving average price of $83.03. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

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

NIKE Increases Dividend

The firm also recently disclosed 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 is a boost from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. NIKE’s payout ratio is currently 42.41%.

About NIKE

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.