WealthPlan Investment Management LLC Purchases 7,564 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• WealthPlan Investment Management LLC increased its holdings in NIKE, Inc. by 10.7%, now owning a total of 77,992 shares worth approximately $4.95 million.
• NIKE received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $78.22.
• In the latest earnings report, NIKE reported earnings per share of $0.14, exceeding estimates, despite a 11.9% revenue decline year-over-year.

WealthPlan Investment Management LLC boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 10.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 77,992 shares of the footwear maker's stock after purchasing an additional 7,564 shares during the period. WealthPlan Investment Management LLC's holdings in NIKE were worth $4,951,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NKE. Ironwood Investment Counsel LLC increased its stake in shares of NIKE by 14.4% during the 1st quarter. Ironwood Investment Counsel LLC now owns 6,190 shares of the footwear maker's stock worth $393,000 after purchasing an additional 780 shares during the last quarter. PARK CIRCLE Co boosted its holdings in NIKE by 50.0% in the 1st quarter. PARK CIRCLE Co now owns 1,200 shares of the footwear maker's stock worth $76,000 after buying an additional 400 shares during the period. Elgethun Capital Management boosted its holdings in NIKE by 63.3% in the 1st quarter. Elgethun Capital Management now owns 2,019 shares of the footwear maker's stock worth $128,000 after buying an additional 783 shares during the period. Monetta Financial Services Inc. bought a new position in NIKE in the 1st quarter worth approximately $952,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in NIKE by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker's stock worth $603,445,000 after buying an additional 301,497 shares during the period. 64.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NKE shares. UBS Group started coverage on shares of NIKE in a report on Sunday, July 6th. They issued a "buy" rating for the company. Wall Street Zen downgraded shares of NIKE from a "hold" rating to a "sell" rating in a report on Friday, June 27th. Berenberg Bank started coverage on shares of NIKE in a report on Tuesday, April 15th. They issued a "hold" rating and a $58.00 price objective for the company. 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 report on Friday, June 27th. Finally, Citigroup raised their price target on shares of NIKE from $57.00 to $68.00 and gave the company a "neutral" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of "Moderate Buy" and an average price target of $78.22.

NIKE Price Performance

NKE stock opened at $75.51 on Thursday. The firm's 50-day moving average price is $69.17 and its two-hundred day moving average price is $67.61. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The stock has a market capitalization of $111.52 billion, a price-to-earnings ratio of 34.96, a PEG ratio of 2.70 and a beta of 1.27. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

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

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the sale, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. The trade was a 11.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company's stock.

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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