MeadowBrook Investment Advisors LLC Invests $1.44 Million in NIKE, Inc. (NYSE:NKE)

MeadowBrook Investment Advisors LLC bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the fourth quarter, HoldingsChannel reports. The firm bought 13,264 shares of the footwear maker’s stock, valued at approximately $1,440,000. NIKE accounts for approximately 1.4% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 19th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Excalibur Management Corp lifted its position in shares of NIKE by 1.9% in the third quarter. Excalibur Management Corp now owns 5,148 shares of the footwear maker’s stock worth $492,000 after purchasing an additional 98 shares in the last quarter. Jeppson Wealth Management LLC increased its stake in shares of NIKE by 4.5% during the third quarter. Jeppson Wealth Management LLC now owns 2,315 shares of the footwear maker’s stock worth $221,000 after purchasing an additional 100 shares during the period. Cairn Investment Group Inc. increased its position in NIKE by 4.2% during the 3rd quarter. Cairn Investment Group Inc. now owns 2,500 shares of the footwear maker’s stock worth $239,000 after buying an additional 100 shares during the period. Tiemann Investment Advisors LLC raised its stake in NIKE by 3.1% in the 3rd quarter. Tiemann Investment Advisors LLC now owns 3,340 shares of the footwear maker’s stock worth $319,000 after purchasing an additional 100 shares in the last quarter. Finally, Piscataqua Savings Bank boosted its stake in shares of NIKE by 2.1% in the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after buying an additional 100 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Up 0.2 %

NYSE:NKE traded up $0.16 on Tuesday, hitting $93.52. The stock had a trading volume of 2,709,158 shares, compared to its average volume of 9,173,119. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $127.69. The firm’s fifty day simple moving average is $95.51 and its two-hundred day simple moving average is $102.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The stock has a market cap of $141.16 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. NIKE’s dividend payout ratio (DPR) is 43.53%.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Truist Financial restated a “hold” rating and issued a $111.00 price target on shares of NIKE in a research report on Tuesday, March 19th. Barclays decreased their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a report on Monday, March 25th. The Goldman Sachs Group dropped their price target on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Piper Sandler cut their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Finally, Telsey Advisory Group decreased their price target on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.26.

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.