WealthPLAN Partners LLC Reduces Position in NIKE, Inc. $NKE

by · The Markets Daily

WealthPLAN Partners LLC lessened its stake in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 24.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,954 shares of the footwear maker’s stock after selling 9,920 shares during the quarter. WealthPLAN Partners LLC’s holdings in NIKE were worth $2,199,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares during the period. GAMMA Investing LLC lifted its stake in NIKE by 39.1% in the first quarter. GAMMA Investing LLC now owns 20,877 shares of the footwear maker’s stock worth $1,325,000 after acquiring an additional 5,863 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in NIKE by 9.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 177,009 shares of the footwear maker’s stock worth $11,236,000 after acquiring an additional 14,748 shares during the period. Ritholtz Wealth Management lifted its stake in NIKE by 30.6% in the first quarter. Ritholtz Wealth Management now owns 8,939 shares of the footwear maker’s stock worth $567,000 after acquiring an additional 2,095 shares during the period. Finally, Trust Point Inc. lifted its stake in NIKE by 17.5% in the first quarter. Trust Point Inc. now owns 5,532 shares of the footwear maker’s stock worth $351,000 after acquiring an additional 822 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NKE opened at $68.45 on Thursday. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $84.76. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $73.38 and a two-hundred day simple moving average of $67.34. The company has a market cap of $101.18 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 2.49 and a beta of 1.29.

NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The firm had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the company earned $0.70 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

Insider Buying and Selling at NIKE

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

Analysts Set New Price Targets

A number of brokerages recently commented on NKE. Evercore ISI dropped their price target on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of NIKE in a research note on Monday, September 29th. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the stock a “hold” rating in a report on Wednesday, October 1st. BTIG Research assumed coverage on NIKE in a report on Tuesday. They issued a “buy” rating and a $100.00 price objective for the company. Finally, Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, September 10th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $82.21.

Check Out Our Latest Stock Report on NIKE

NIKE Profile

(Free Report)

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.

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