NIKE, Inc. (NYSE:NKE) is CFC Planning Co LLC's 5th Largest Position

CFC Planning Co LLC grew its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 18.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,122 shares of the footwear maker's stock after purchasing an additional 9,405 shares during the period. NIKE makes up approximately 4.2% of CFC Planning Co LLC's investment portfolio, making the stock its 5th biggest position. CFC Planning Co LLC's holdings in NIKE were worth $3,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. State of Michigan Retirement System grew its position in NIKE by 14.3% in the first quarter. State of Michigan Retirement System now owns 466,615 shares of the footwear maker's stock worth $29,621,000 after acquiring an additional 58,400 shares in the last quarter. Cerity Partners LLC grew its position in NIKE by 34.6% in the first quarter. Cerity Partners LLC now owns 490,149 shares of the footwear maker's stock worth $31,126,000 after acquiring an additional 126,080 shares in the last quarter. Correct Capital Wealth Management grew its position in NIKE by 53.4% in the first quarter. Correct Capital Wealth Management now owns 22,292 shares of the footwear maker's stock worth $1,415,000 after acquiring an additional 7,759 shares in the last quarter. Vision Capital Management Inc. grew its position in NIKE by 12.0% in the first quarter. Vision Capital Management Inc. now owns 76,574 shares of the footwear maker's stock worth $4,861,000 after acquiring an additional 8,222 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in NIKE in the first quarter worth about $1,572,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on NKE shares. Morgan Stanley lifted their price target on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. Royal Bank Of Canada decreased their price objective on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research note on Tuesday, May 20th. Berenberg Bank assumed coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective for the company. BMO Capital Markets decreased their price objective on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Finally, Citigroup raised their price objective on shares of NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.15.

NIKE Price Performance

Shares of NKE opened at $74.64 on Friday. The business's 50-day moving average is $63.78 and its two-hundred day moving average is $67.43. The company has a market capitalization of $110.40 billion, a P/E ratio of 34.56, a P/E/G ratio of 2.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The firm had revenue of $11.10 billion for the quarter, compared to analysts' expectations of $10.69 billion. During the same period last year, the firm earned $0.99 EPS. The company's quarterly revenue was down 11.9% on a year-over-year basis. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.14%. The ex-dividend date was Monday, June 2nd. NIKE's payout ratio is 74.07%.

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.

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