WealthPlan Investment Management LLC Purchases 15,533 Shares of NIKE, Inc. $NKE

WealthPlan Investment Management LLC raised its position in NIKE, Inc. (NYSE:NKE) by 19.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 93,525 shares of the footwear maker’s stock after buying an additional 15,533 shares during the quarter. WealthPlan Investment Management LLC’s holdings in NIKE were worth $6,644,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of NKE. Goldman Sachs Group Inc. increased its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after purchasing an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP increased its position in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after purchasing an additional 9,043,180 shares during the last quarter. Jennison Associates LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $509,051,000. Nuveen LLC acquired a new position in shares of NIKE during the 1st quarter worth approximately $502,285,000. Finally, Vanguard Group Inc. increased its position in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

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

NIKE Price Performance

Shares of NYSE NKE opened at $68.45 on Thursday. The stock has a market capitalization of $101.18 billion, a PE ratio of 35.10, a P/E/G ratio of 2.49 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The business has a fifty day moving average price of $73.38 and a two-hundred day moving average price of $67.34. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $84.76.

NIKE (NYSE:NKE) last announced its quarterly earnings data 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 analysts’ expectations of $10.96 billion. During the same period in the previous year, the firm earned $0.70 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NKE. JPMorgan Chase & Co. lifted their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Bank of America lifted their target price on NIKE from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, June 27th. Needham & Company LLC reiterated a “buy” rating and set a $78.00 target price on shares of NIKE in a research note on Wednesday, October 1st. Argus upgraded NIKE to a “buy” rating in a research note on Sunday, July 6th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $75.00 price target on shares of NIKE in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus target price 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.