WealthPlan Investment Management LLC Has $6.64 Million Stake in NIKE, Inc. $NKE

Key Points

• WealthPlan Investment Management LLC has increased its stake in NIKE, Inc. by 19.9% during Q2, now holding shares worth approximately $6.64 million.
• NIKE's most recent quarterly earnings reported $0.49 EPS, outperforming estimates, with revenues of $11.72 billion surpassing expectations.
• Analysts broadly hold a positive outlook on NIKE, with three ratings of Strong Buy, twenty-five Buy ratings, and a consensus target price of $82.21.

WealthPlan Investment Management LLC lifted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 19.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,525 shares of the footwear maker's stock after purchasing an additional 15,533 shares during the quarter. WealthPlan Investment Management LLC's holdings in NIKE were worth $6,644,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NKE. Stone House Investment Management LLC acquired a new position in shares of NIKE in the first quarter valued at $25,000. Mascoma Wealth Management LLC acquired a new position in NIKE during the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC raised its stake in NIKE by 952.6% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker's stock worth $28,000 after acquiring an additional 362 shares in the last quarter. Saudi Central Bank acquired a new position in NIKE during the first quarter worth $30,000. Finally, Matrix Trust Co raised its stake in NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker's stock worth $31,000 after acquiring an additional 153 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NKE. Robert W. Baird increased their price objective on NIKE from $80.00 to $88.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Barclays set a $70.00 price objective on NIKE and gave the stock a "positive" rating in a research note on Wednesday, October 1st. KeyCorp set a $90.00 price objective on NIKE and gave the stock an "overweight" rating in a research note on Thursday, October 2nd. DZ Bank upgraded NIKE from a "hold" rating to a "buy" rating in a research note on Wednesday, October 1st. Finally, UBS Group set a $71.00 price objective on NIKE and gave the stock a "neutral" rating in a research note on Friday, September 19th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.21.

NIKE Price Performance

Shares of NKE stock opened at $68.45 on Thursday. The stock's fifty day moving average is $73.38 and its 200-day moving average is $67.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock has a market capitalization of $101.18 billion, a PE ratio of 35.10, a PEG ratio of 2.49 and a beta of 1.29. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $84.76.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analysts' expectations of $10.96 billion. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business's revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 earnings per share. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were issued a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a yield of 2.3%. NIKE's dividend payout ratio (DPR) is currently 82.05%.

Insider Activity

In related news, Chairman Mark G. Parker sold 86,078 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the transaction, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. This trade represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Treasure Heinle sold 4,300 shares of the firm's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the completion of the transaction, the executive vice president owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

NIKE 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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