Meridian Financial Partners LLC Purchases 133 Shares of NIKE, Inc. (NYSE:NKE)

Meridian Financial Partners LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 1.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,396 shares of the footwear maker’s stock after acquiring an additional 133 shares during the period. Meridian Financial Partners LLC’s holdings in NIKE were worth $742,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Longview Partners Guernsey LTD purchased a new position in NIKE in the 1st quarter valued at approximately $533,533,000. Capital World Investors raised its stake in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after purchasing an additional 4,457,376 shares during the period. Jennison Associates LLC grew its holdings in NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares in the last quarter. PineStone Asset Management Inc. increased its position in shares of NIKE by 138.3% during the second quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after buying an additional 1,576,049 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of NIKE by 351.7% in the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock worth $150,101,000 after buying an additional 1,550,611 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on NKE shares. Piper Sandler reiterated a “neutral” rating and issued a $80.00 target price on shares of NIKE in a research note on Friday, September 20th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Finally, Telsey Advisory Group dropped their price target on NIKE from $100.00 to $96.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.56.

NIKE Price Performance

Shares of NKE opened at $82.92 on Friday. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39. The firm’s 50-day simple moving average is $82.64 and its two-hundred day simple moving average is $85.32. The stock has a market cap of $125.16 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the firm posted $0.94 EPS. NIKE’s revenue for the quarter was down 10.4% on a year-over-year basis. Analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

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.