Meeder Advisory Services Inc. Has $1.64 Million Holdings in NIKE, Inc. (NYSE:NKE)

Meeder Advisory Services Inc. lowered its position in NIKE, Inc. (NYSE:NKE) by 4.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 18,573 shares of the footwear maker’s stock after selling 789 shares during the period. Meeder Advisory Services Inc.’s holdings in NIKE were worth $1,642,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. ING Groep NV acquired a new position in NIKE in the third quarter valued at $29,628,000. Cordatus Wealth Management LLC lifted its stake in shares of NIKE by 19.5% in the 3rd quarter. Cordatus Wealth Management LLC now owns 41,510 shares of the footwear maker’s stock valued at $3,669,000 after purchasing an additional 6,778 shares during the period. Bristlecone Advisors LLC boosted its position in shares of NIKE by 14.3% during the 3rd quarter. Bristlecone Advisors LLC now owns 93,521 shares of the footwear maker’s stock valued at $8,267,000 after purchasing an additional 11,665 shares in the last quarter. WoodTrust Financial Corp grew its stake in NIKE by 19.9% during the third quarter. WoodTrust Financial Corp now owns 98,289 shares of the footwear maker’s stock worth $8,689,000 after purchasing an additional 16,303 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its stake in NIKE by 44.8% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,101 shares of the footwear maker’s stock worth $17,159,000 after purchasing an additional 60,008 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on NKE shares. Evercore ISI dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 2nd. Barclays dropped their target price on shares of NIKE from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, TD Cowen decreased their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.30.

NIKE Stock Down 2.3 %

NKE opened at $74.86 on Tuesday. The company’s 50-day moving average price is $80.79 and its two-hundred day moving average price is $83.03. 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, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The stock has a market cap of $112.24 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.86 and a beta of 1.03.

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

NIKE Increases Dividend

The firm 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 dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.14%. NIKE’s dividend payout ratio is 42.41%.

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.