WealthPLAN Partners LLC Has $3.75 Million Stock Holdings in NIKE, Inc. (NYSE:NKE)

WealthPLAN Partners LLC cut its position in NIKE, Inc. (NYSE:NKE) by 29.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 39,908 shares of the footwear maker’s stock after selling 17,062 shares during the period. WealthPLAN Partners LLC’s holdings in NIKE were worth $3,751,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Annapolis Financial Services LLC raised its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares during the period. Iron Horse Wealth Management LLC increased its position in shares of NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of NIKE during the fourth quarter worth $29,000. True Wealth Design LLC increased its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of NIKE during the fourth quarter worth $33,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NIKE news, Director Robert Holmes Swan purchased 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Robert Holmes Swan purchased 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $77.02 per share, for a total transaction of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $93.64, for a total transaction of $26,406.48. Following the transaction, the vice president now owns 730 shares of the company’s stock, valued at $68,357.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,660 shares of company stock worth $19,946,333. Corporate insiders own 0.50% of the company’s stock.

NIKE Stock Performance

Shares of NKE traded up $0.03 during mid-day trading on Friday, hitting $73.42. 14,527,522 shares of the company’s stock were exchanged, compared to its average volume of 21,321,846. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE, Inc. has a 52 week low of $71.67 and a 52 week high of $123.39. The stock’s 50-day simple moving average is $89.52 and its 200-day simple moving average is $95.99. The firm has a market cap of $110.82 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same period in the previous year, the firm earned $0.66 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that NIKE, Inc. will post 3.17 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 3rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Analyst Ratings Changes

NKE has been the subject of several research reports. Bank of America lowered their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Raymond James reissued a “market perform” rating on shares of NIKE in a research report on Friday, June 28th. UBS Group reissued a “neutral” rating and set a $78.00 price objective on shares of NIKE in a research report on Friday, June 28th. HSBC decreased their target price on shares of NIKE from $100.00 to $90.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $96.44.

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.