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

WealthPLAN Partners LLC cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 24.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Spire Wealth Management boosted its position in shares of NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker’s stock valued at $627,000 after buying an additional 416 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of NIKE by 0.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after buying an additional 5,601 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of NIKE during the first quarter valued at $25,963,000. BROOKFIELD Corp ON boosted its position in NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares during the last quarter. Finally, Cadence Bank boosted its position in NIKE by 10.0% in the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock worth $5,269,000 after purchasing an additional 7,574 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Sanford C. Bernstein reissued a “buy” rating and issued a $90.00 target price on shares of NIKE in a research report on Monday. Stifel Nicolaus set a $68.00 target price on NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $78.00 price objective on shares of NIKE in a research note on Wednesday, October 1st. Four investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.21.

Insider Activity at NIKE

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

NIKE Stock Up 1.2%

NKE stock opened at $68.45 on Thursday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $84.76. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The stock has a market cap of $101.18 billion, a P/E ratio of 35.10, a PEG ratio of 2.49 and a beta of 1.29. The business’s 50-day moving average price is $73.38 and its 200-day moving average price is $67.34.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates 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 for 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 business’s quarterly revenue was up 1.0% on a year-over-year basis. On average, equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

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

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.