WealthPLAN Partners LLC Has $2.82 Million Stake in NIKE, Inc. (NYSE:NKE)

WealthPLAN Partners LLC lowered its stake in NIKE, Inc. (NYSE:NKE) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,367 shares of the footwear maker’s stock after selling 2,541 shares during the period. WealthPLAN Partners LLC’s holdings in NIKE were worth $2,816,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NKE. 9258 Wealth Management LLC raised its holdings in NIKE by 23.9% during the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock worth $474,000 after purchasing an additional 842 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in NIKE by 34.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock worth $1,259,000 after purchasing an additional 2,981 shares during the period. TrinityPoint Wealth LLC lifted its holdings in NIKE by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after acquiring an additional 166 shares in the last quarter. Sachetta LLC bought a new position in shares of NIKE during the 4th quarter valued at about $227,000. Finally, D.A. Davidson & CO. boosted its holdings in shares of NIKE by 3.6% in the fourth quarter. D.A. Davidson & CO. now owns 99,143 shares of the footwear maker’s stock valued at $10,764,000 after buying an additional 3,414 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup lowered their price target on shares of NIKE from $115.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $83.00 target price (down from $116.00) on shares of NIKE in a report on Friday, June 28th. Jefferies Financial Group cut their price objective on shares of NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Williams Trading raised NIKE from a “sell” rating to a “buy” rating and raised their price objective for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Finally, TD Cowen reduced their price target on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $95.59.

NIKE Trading Up 1.0 %

Shares of NKE stock opened at $79.82 on Tuesday. The company has a market cap of $120.48 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock’s 50 day simple moving average is $77.36 and its two-hundred day simple moving average is $87.47. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter last year, the business posted $0.66 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 3.06 earnings per share for the current year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.85%. NIKE’s payout ratio is 39.68%.

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.