LifePlan Financial LLC Purchases 3,617 Shares of NIKE, Inc. (NYSE:NKE)

LifePlan Financial LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 35.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,690 shares of the footwear maker's stock after buying an additional 3,617 shares during the period. LifePlan Financial LLC's holdings in NIKE were worth $869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Spire Wealth Management lifted its stake in shares of NIKE by 4.4% in the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after acquiring an additional 416 shares in the last quarter. Renaissance Technologies LLC raised its stake in NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock worth $196,901,000 after acquiring an additional 2,416,601 shares during the period. Capitolis Liquid Global Markets LLC raised its position in shares of NIKE by 40.9% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after purchasing an additional 90,000 shares during the period. Janus Henderson Group PLC increased its position in NIKE by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after buying an additional 463,470 shares during the period. Finally, Markel Group Inc. increased its position in NIKE by 0.8% in the fourth quarter. Markel Group Inc. now owns 432,400 shares of the footwear maker's stock worth $32,720,000 after buying an additional 3,500 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan purchased 8,600 shares of the business's stock in a transaction dated Friday, April 4th. The shares were acquired at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director owned 31,983 shares of the company's stock, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.10% of the company's stock.

NIKE Stock Up 4.1%

Shares of NYSE NKE traded up $2.98 during mid-day trading on Wednesday, reaching $76.39. The company had a trading volume of 26,147,226 shares, compared to its average volume of 15,389,707. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The stock's 50 day moving average is $61.26 and its 200-day moving average is $67.44. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The stock has a market capitalization of $112.99 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 2.57 and a beta of 1.25.

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

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE's dividend payout ratio is currently 53.16%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays raised their price target on shares of NIKE from $53.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. The Goldman Sachs Group raised their price objective on shares of NIKE from $72.00 to $81.00 and gave the company a "buy" rating in a research note on Friday, June 27th. Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. UBS Group reiterated a "neutral" rating and set a $63.00 price target on shares of NIKE in a research report on Friday, June 27th. Finally, Argus upgraded NIKE from a "hold" rating to a "buy" rating and set a $85.00 price target on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $77.19.

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.