WealthPLAN Partners LLC Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

WealthPLAN Partners LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 1.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,013 shares of the footwear maker’s stock after buying an additional 646 shares during the period. WealthPLAN Partners LLC’s holdings in NIKE were worth $3,360,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NKE. Vanguard Group Inc. increased its stake in NIKE by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after purchasing an additional 501,792 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock valued at $832,785,000 after buying an additional 571,544 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of NIKE by 0.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 6,025,616 shares of the footwear maker’s stock valued at $454,151,000 after acquiring an additional 52,500 shares in the last quarter. Longview Partners Guernsey LTD purchased a new position in NIKE in the 1st quarter worth approximately $533,533,000. Finally, Capital World Investors lifted its position in NIKE by 612.2% in the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after acquiring an additional 4,457,376 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Robert W. Baird boosted their price target on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Williams Trading upgraded shares of NIKE from a “sell” rating to a “buy” rating and upped their target price for the company from $67.00 to $93.00 in a research note on Friday, August 16th. Royal Bank of Canada reduced their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

Insider Activity

In related news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

NIKE Stock Up 0.9 %

NKE opened at $76.60 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a market cap of $114.85 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03. The company has a 50-day moving average price of $81.39 and a 200 day moving average price of $83.73.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.94 EPS. Sell-side analysts expect that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

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.