WealthPlan Investment Management LLC Reduces Stake in NIKE, Inc. $NKE

Key Points

• WealthPlan Investment Management cut its NIKE stake by 54.9% in the fourth quarter, leaving it with 41,253 shares valued at about $2.63 million.
• Insiders bought shares in recent weeks, including Director Timothy D. Cook and CEO Elliott Hill, and insiders collectively purchased 64,441 shares over the last 90 days.
• NIKE reported quarterly earnings of $0.35 per share, beating expectations, while revenue came in slightly above estimates at $11.28 billion; the company also announced a quarterly dividend of $0.41 per share.

WealthPlan Investment Management LLC reduced its position in NIKE, Inc. (NYSE:NKE - Free Report) by 54.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,253 shares of the footwear maker's stock after selling 50,230 shares during the period. WealthPlan Investment Management LLC's holdings in NIKE were worth $2,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NKE. Guerra Advisors Inc purchased a new position in shares of NIKE in the 3rd quarter worth $34,000. Gordian Capital Singapore Pte Ltd purchased a new position in NIKE during the third quarter valued at $35,000. Accredited Wealth Management LLC grew its holdings in NIKE by 268.6% during the third quarter. Accredited Wealth Management LLC now owns 516 shares of the footwear maker's stock valued at $36,000 after purchasing an additional 376 shares during the period. Matrix Trust Co increased its position in NIKE by 43.6% in the fourth quarter. Matrix Trust Co now owns 596 shares of the footwear maker's stock worth $38,000 after buying an additional 181 shares in the last quarter. Finally, Ares Financial Consulting LLC purchased a new stake in NIKE in the fourth quarter worth about $40,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In other news, Director Timothy D. Cook bought 25,000 shares of NIKE stock in a transaction dated Friday, April 10th. The shares were purchased at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares of the company's stock, valued at $5,536,266.40. This trade represents a 23.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Elliott Hill bought 23,660 shares of NIKE stock in a transaction dated Monday, April 13th. The stock was purchased at an average cost of $42.27 per share, for a total transaction of $1,000,108.20. Following the completion of the acquisition, the chief executive officer directly owned 265,247 shares of the company's stock, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 64,441 shares of company stock valued at $2,734,204. 0.80% of the stock is owned by company insiders.

NIKE Trading Down 0.3%

Shares of NKE stock opened at $41.88 on Friday. NIKE, Inc. has a 12-month low of $41.70 and a 12-month high of $80.17. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50. The stock's 50-day moving average price is $47.89 and its 200-day moving average price is $58.11. The stock has a market capitalization of $62.03 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion for the quarter, compared to analysts' expectations of $11.23 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The business's revenue was up .1% compared to the same quarter last year. Equities research analysts predict that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, June 1st. NIKE's payout ratio is 108.61%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NKE. CICC Research cut NIKE from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $69.00 to $58.00 in a research report on Monday, April 6th. Wall Street Zen upgraded shares of NIKE from a "sell" rating to a "hold" rating in a research note on Saturday. Evercore lowered their price target on shares of NIKE from $69.00 to $57.00 and set an "outperform" rating on the stock in a report on Wednesday, April 1st. Wells Fargo & Company set a $45.00 price target on shares of NIKE and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Finally, Citigroup decreased their price objective on shares of NIKE from $65.00 to $53.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 1st. Sixteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, NIKE currently has an average rating of "Hold" and a consensus target price of $62.04.

NIKE Profile

Nike, Inc NYSE: NKE is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).

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