WealthPLAN Partners LLC Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

WealthPLAN Partners LLC grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,013 shares of the footwear maker’s stock after buying an additional 646 shares during the period. WealthPLAN Partners LLC’s holdings in NIKE were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in NKE. Transcendent Capital Group LLC raised its holdings in NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC boosted its position in shares of NIKE by 52.6% in the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Bruce G. Allen Investments LLC grew its stake in NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares during the last quarter. Triad Wealth Partners LLC acquired a new position in NIKE during the second quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC purchased a new stake in NIKE in the second quarter valued at approximately $46,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on NKE shares. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $83.00 to $97.00 in a research note on Thursday, October 10th. Robert W. Baird lifted their target price on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Morgan Stanley boosted their target price on NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Finally, TD Cowen lifted their target price on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE Trading Up 0.9 %

Shares of NYSE:NKE opened at $76.60 on Tuesday. The company has a 50 day moving average of $81.39 and a 200-day moving average of $83.73. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. The firm has a market cap of $114.85 billion, a P/E ratio of 21.95, a P/E/G ratio of 1.84 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. As a group, analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction that occurred on 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 owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

NIKE 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.