Retirement Planning Co of New England Inc. Acquires New Shares in NIKE, Inc. (NYSE:NKE)

Retirement Planning Co of New England Inc. purchased a new stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,555 shares of the footwear maker's stock, valued at approximately $480,000.

Other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management lifted its position in NIKE by 4.4% during the first quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock valued at $627,000 after purchasing an additional 416 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of 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 in the last quarter. Capitolis Liquid Global Markets LLC raised its stake in shares of NIKE by 40.9% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after acquiring an additional 90,000 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after acquiring an additional 463,470 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its stake in shares of NIKE by 3.3% during the fourth quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after acquiring an additional 7,536 shares in the last quarter. Institutional investors own 64.25% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. HSBC upgraded shares of NIKE from a "hold" rating to a "buy" rating and set a $80.00 target price on the stock in a report on Friday, June 27th. Royal Bank Of Canada dropped their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Telsey Advisory Group restated a "market perform" rating and set a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. Morgan Stanley upped their target price on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $77.00 to $71.00 and set a "buy" rating on the stock in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average target price of $77.15.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total value of $7,951,900.00. Following the completion of the transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This represents a 11.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.

NIKE Stock Down 0.7%

Shares of NKE traded down $0.48 during midday trading on Friday, hitting $72.50. The company had a trading volume of 8,792,733 shares, compared to its average volume of 15,097,393. 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 1 year low of $52.28 and a 1 year high of $90.62. The firm has a market capitalization of $107.24 billion, a P/E ratio of 33.56, a P/E/G ratio of 2.70 and a beta of 1.25. The company's 50-day simple moving average is $65.49 and its 200-day simple moving average is $67.27.

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, topping 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 company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the business earned $0.99 earnings per share. NIKE's quarterly revenue was down 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.21%. NIKE's dividend payout ratio (DPR) is currently 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.