WealthPLAN Partners LLC Acquires 3,692 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• WealthPLAN Partners LLC increased its stake in NIKE, Inc. by 9.9%, acquiring an additional 3,692 shares and bringing its total holdings to 40,874 shares, valued at approximately $2.6 million.
• Several institutional investors significantly expanded their holdings in NIKE during the fourth quarter, with Federated Hermes Inc. leading the way with a remarkable 842.6% increase.
• NIKE's stock currently holds a market capitalization of $111.52 billion and has a consensus rating of "Moderate Buy" from analysts, with a price target averaging around $78.22.

WealthPLAN Partners LLC raised its position in NIKE, Inc. (NYSE:NKE - Free Report) by 9.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,874 shares of the footwear maker's stock after purchasing an additional 3,692 shares during the quarter. WealthPLAN Partners LLC's holdings in NIKE were worth $2,595,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NKE. Brighton Jones LLC raised its position in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Bank Pictet & Cie Europe AG raised its position in NIKE by 10.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock valued at $14,447,000 after purchasing an additional 17,888 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in NIKE by 7.3% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 14,930 shares of the footwear maker's stock valued at $1,130,000 after purchasing an additional 1,019 shares during the last quarter. Federated Hermes Inc. raised its position in NIKE by 842.6% in the fourth quarter. Federated Hermes Inc. now owns 107,873 shares of the footwear maker's stock valued at $8,163,000 after purchasing an additional 96,429 shares during the last quarter. Finally, Invesco Ltd. raised its position in NIKE by 12.5% in the fourth quarter. Invesco Ltd. now owns 6,213,803 shares of the footwear maker's stock valued at $470,199,000 after purchasing an additional 688,889 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Mark G. Parker sold 110,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the completion of the transaction, the chairman directly owned 842,361 shares in the company, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.80% of the stock is currently owned by insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $75.51 on Thursday. The stock has a market cap of $111.52 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 2.70 and a beta of 1.27. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $90.62. 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 fifty day moving average of $69.17 and a 200-day moving average of $67.61.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on NKE shares. Royal Bank Of Canada dropped their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Morgan Stanley raised their price objective on NIKE from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Friday, June 27th. JPMorgan Chase & Co. upgraded NIKE from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $64.00 to $93.00 in a research report on Monday, July 28th. Wells Fargo & Company raised their price objective on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Finally, Wall Street Zen downgraded NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $78.22.

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.

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