WealthPlan Investment Management LLC Has $6.85 Million Stake in NIKE, Inc. (NYSE:NKE)

WealthPlan Investment Management LLC raised its position in NIKE, Inc. (NYSE:NKE) by 5.1% during the third quarter, Holdings Channel reports. The firm owned 77,461 shares of the footwear maker’s stock after purchasing an additional 3,767 shares during the period. WealthPlan Investment Management LLC’s holdings in NIKE were worth $6,848,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. WealthPLAN Partners LLC lifted its position in shares of NIKE by 1.7% in the 3rd quarter. WealthPLAN Partners LLC now owns 38,013 shares of the footwear maker’s stock worth $3,360,000 after purchasing an additional 646 shares during the period. Harbour Investments Inc. lifted its position in shares of NIKE by 6.6% in the 3rd quarter. Harbour Investments Inc. now owns 5,749 shares of the footwear maker’s stock worth $508,000 after purchasing an additional 357 shares during the period. Jeppson Wealth Management LLC acquired a new position in shares of NIKE in the 3rd quarter worth approximately $220,000. Fountainhead AM LLC lifted its position in shares of NIKE by 6.6% in the 3rd quarter. Fountainhead AM LLC now owns 7,841 shares of the footwear maker’s stock worth $693,000 after purchasing an additional 485 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its position in shares of NIKE by 8.5% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 20,310 shares of the footwear maker’s stock worth $1,795,000 after purchasing an additional 1,585 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Price Performance

NKE opened at $76.60 on Tuesday. The firm has a market cap of $114.85 billion, a P/E ratio of 21.95, a PEG ratio of 1.84 and a beta of 1.03. The firm has a 50-day moving average of $81.25 and a 200 day moving average of $83.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on NKE shares. Guggenheim dropped their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Piper Sandler reiterated a “neutral” rating and set a $80.00 target price on shares of NIKE in a research report on Friday, September 20th. Finally, Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their target price for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

NIKE Company 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.