2,951 Shares in NIKE, Inc. (NYSE:NKE) Purchased by Meridian Wealth Management LLC

Meridian Wealth Management LLC bought a new position in NIKE, Inc. (NYSE:NKE) during the third quarter, HoldingsChannel.com reports. The fund bought 2,951 shares of the footwear maker’s stock, valued at approximately $261,000.

Several other institutional investors also recently bought and sold shares of NKE. VitalStone Financial LLC increased its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of NIKE by 272.5% in the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new position in shares of NIKE during the 2nd quarter valued at approximately $44,000. MFA Wealth Advisors LLC purchased a new stake in shares of NIKE during the 2nd quarter valued at about $46,000. Finally, Lynx Investment Advisory bought a new position in shares of NIKE during the 2nd quarter valued at approximately $47,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NKE shares. Deutsche Bank Aktiengesellschaft decreased 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. Jefferies Financial Group lifted their price objective on shares of NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Wells Fargo & Company increased their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Royal Bank of Canada lowered their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Fourteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $95.86.

NIKE Stock Up 2.4 %

NKE stock opened at $79.26 on Tuesday. The stock has a market capitalization of $118.84 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.88 and a beta of 1.03. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The firm has a 50-day simple moving average of $80.50 and a 200-day simple moving average of $82.42. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Equities analysts forecast that NIKE, Inc. will post 2.75 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. This is a positive change from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

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.