MeadowBrook Investment Advisors LLC Lowers Position in NIKE, Inc. $NKE

MeadowBrook Investment Advisors LLC cut its stake in NIKE, Inc. (NYSE:NKE) by 2.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,349 shares of the footwear maker’s stock after selling 300 shares during the quarter. NIKE accounts for about 0.8% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 28th biggest position. MeadowBrook Investment Advisors LLC’s holdings in NIKE were worth $877,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the period. Golden State Wealth Management LLC raised its position in shares of NIKE by 11.9% in the first quarter. Golden State Wealth Management LLC now owns 2,905 shares of the footwear maker’s stock worth $184,000 after buying an additional 310 shares in the last quarter. Koshinski Asset Management Inc. raised its position in shares of NIKE by 32.2% in the first quarter. Koshinski Asset Management Inc. now owns 8,833 shares of the footwear maker’s stock worth $561,000 after buying an additional 2,150 shares in the last quarter. Alta Advisers Ltd raised its position in shares of NIKE by 50.5% in the first quarter. Alta Advisers Ltd now owns 5,961 shares of the footwear maker’s stock worth $378,000 after buying an additional 2,000 shares in the last quarter. Finally, Mather Group LLC. raised its position in NIKE by 34.1% during the first quarter. Mather Group LLC. now owns 40,246 shares of the footwear maker’s stock valued at $2,555,000 after purchasing an additional 10,234 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 3.1%

Shares of NIKE stock opened at $65.35 on Thursday. The company has a market capitalization of $96.59 billion, a P/E ratio of 33.51, a P/E/G ratio of 2.48 and a beta of 1.29. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The company has a fifty day moving average of $71.79 and a 200 day moving average of $68.17.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. NIKE’s dividend payout ratio (DPR) is 82.05%.

Insider Buying and Selling

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total transaction of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NKE. Morgan Stanley set a $72.00 price target on NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. TD Cowen raised NIKE from a “hold” rating to a “buy” rating and raised their price objective for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Weiss Ratings raised NIKE from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Finally, BTIG Research started coverage on shares of NIKE in a report on Tuesday, October 14th. They set a “buy” rating and a $100.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

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.