NIKE, Inc. (NYSE:NKE) Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 6.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,367 shares of the footwear maker’s stock after selling 2,541 shares during the period. WealthPLAN Partners LLC’s holdings in NIKE were worth $2,816,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Annapolis Financial Services LLC grew its holdings in shares of NIKE by 440.0% during 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 last quarter. True Wealth Design LLC increased its holdings in shares of NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock valued at $32,000 after purchasing an additional 150 shares in the last quarter. Core Wealth Advisors Inc. lifted its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after acquiring an additional 241 shares during the period. Frank Rimerman Advisors LLC purchased a new stake in NIKE during the fourth quarter worth $33,000. Finally, Gold Investment Management Ltd. acquired a new stake in NIKE in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, August 23rd. Truist Financial reduced their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Wedbush decreased their target price on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Finally, Guggenheim decreased their price target on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.59.

NIKE Price Performance

NYSE:NKE opened at $79.82 on Tuesday. The company has a market capitalization of $120.48 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.08 and a beta of 1.02. The company has a 50-day moving average of $77.36 and a 200-day moving average of $87.47. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last released 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. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 3.06 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be paid a $0.37 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.85%. NIKE’s dividend payout ratio is presently 39.68%.

Insider Transactions at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The disclosure for this purchase can be found here. 0.50% of the stock is owned by insiders.

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.