Meeder Advisory Services Inc. Has $1.50 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

Meeder Advisory Services Inc. decreased its stake in NIKE, Inc. (NYSE:NKE) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,972 shares of the footwear maker’s stock after selling 493 shares during the period. Meeder Advisory Services Inc.’s holdings in NIKE were worth $1,501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Annapolis Financial Services LLC boosted its position in shares of NIKE by 440.0% during the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC boosted its holdings in NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new position in NIKE in the fourth quarter worth approximately $29,000. True Wealth Design LLC boosted its holdings in NIKE by 106.4% in the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new position in NIKE in the fourth quarter worth approximately $33,000. Institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on NKE shares. Royal Bank of Canada cut their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 2nd. Sanford C. Bernstein cut their price target on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $83.00 price target (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $115.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Piper Sandler lowered their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Hold” and an average price target of $96.44.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan purchased 2,941 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $77.02 per share, with a total value of $226,515.82. Following the completion of the acquisition, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at $102,648,662.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders sold 213,660 shares of company stock valued at $19,946,333 over the last three months. Company insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NYSE:NKE traded down $2.11 during trading hours on Monday, reaching $71.31. The stock had a trading volume of 20,092,940 shares, compared to its average volume of 11,261,712. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a 50 day simple moving average of $89.07 and a 200 day simple moving average of $95.64. NIKE, Inc. has a 12-month low of $71.24 and a 12-month high of $123.39. The stock has a market cap of $107.63 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01.

NIKE (NYSE:NKE) last released its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the business posted $0.66 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts forecast that NIKE, Inc. will post 3.17 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s payout ratio is currently 39.68%.

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.