Life Planning Partners Inc Purchases New Shares in NIKE, Inc. (NYSE:NKE)

Life Planning Partners Inc acquired a new position in NIKE, Inc. (NYSE:NKE) in the 4th quarter, Holdings Channel reports. The firm acquired 147,784 shares of the footwear maker’s stock, valued at approximately $11,183,000. NIKE accounts for approximately 1.6% of Life Planning Partners Inc’s investment portfolio, making the stock its 18th largest position.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Caitlin John LLC raised its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of NIKE in the 4th quarter worth approximately $28,000. Roxbury Financial LLC purchased a new position in shares of NIKE in the 4th quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA boosted its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new position in NIKE in the fourth quarter worth $30,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $72.00 to $90.00 in a research report on Friday, January 10th. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $73.00 to $64.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. China Renaissance assumed coverage on shares of NIKE in a report on Wednesday, March 19th. They set a “hold” rating for the company. Barclays dropped their price target on NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Finally, Guggenheim reaffirmed a “buy” rating and set a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $87.38.

NIKE Trading Down 3.8 %

NIKE stock opened at $63.32 on Friday. NIKE, Inc. has a 52-week low of $63.14 and a 52-week high of $98.04. The company has a market cap of $93.65 billion, a P/E ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $74.16 and a two-hundred day simple moving average of $76.93.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. Analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.53%. NIKE’s dividend payout ratio (DPR) is 53.16%.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 169,732 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

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.