Partners in Financial Planning Invests $671,000 in NIKE, Inc. (NYSE:NKE)

Partners in Financial Planning purchased a new stake in NIKE, Inc. (NYSE:NKE) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 8,871 shares of the footwear maker’s stock, valued at approximately $671,000.

Several other large investors have also recently added to or reduced their stakes in the company. Caitlin John LLC raised its stake in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Heck Capital Advisors LLC bought a new position in NIKE in the 4th quarter valued at $28,000. Roxbury Financial LLC acquired a new position in NIKE in the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA grew its holdings 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 worth $30,000 after purchasing an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of NIKE in the fourth quarter valued at $30,000. 64.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Citigroup downgraded shares of NIKE from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Needham & Company LLC lowered their price target on shares of NIKE from $84.00 to $80.00 and set a “buy” rating for the company in a report on Monday, March 17th. China Renaissance initiated coverage on shares of NIKE in a research report on Wednesday, March 19th. They issued a “hold” rating for the company. Truist Financial lowered their target price on NIKE from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Friday, March 21st. Finally, Wells Fargo & Company cut their price target on NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Fifteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.38.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now directly owns 896,632 shares in the company, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.10% of the company’s stock.

NIKE Trading Down 3.8 %

NYSE:NKE opened at $63.32 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The business’s 50-day simple moving average is $74.16 and its 200-day simple moving average is $76.92. NIKE, Inc. has a fifty-two week low of $62.76 and a fifty-two week high of $98.04. The stock has a market capitalization of $93.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter in the previous year, the firm posted $0.98 earnings per share. The business’s revenue was down 9.1% on a year-over-year basis. Sell-side analysts expect 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 will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

About NIKE

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.