WealthPlan Investment Management LLC Acquires 3,767 Shares of NIKE, Inc. (NYSE:NKE)

WealthPlan Investment Management LLC boosted its holdings in NIKE, Inc. (NYSE:NKE) by 5.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Transcendent Capital Group LLC grew its position in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after acquiring an additional 200 shares during the period. VitalStone Financial LLC grew 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 acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC grew its position in shares of NIKE by 272.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock valued at $39,000 after acquiring an additional 376 shares during the period. Triad Wealth Partners LLC bought a new position in shares of NIKE in the 2nd quarter valued at about $44,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of NIKE in the 2nd quarter valued at about $46,000. Institutional investors own 64.25% of the company’s stock.

Insider Activity at NIKE

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on 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 sale, the chairman now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

NIKE Trading Up 0.9 %

Shares of NIKE stock opened at $76.60 on Tuesday. The firm has a market capitalization of $114.85 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.84 and a beta of 1.03. 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’s 50 day moving average is $81.25 and its 200 day moving average is $83.61. NIKE, Inc. has a 1 year low of $70.75 and a 1 year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. The company had revenue of $11.59 billion for 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 was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Sanford C. Bernstein decreased their price objective on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Guggenheim cut their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $83.00 to $97.00 in a research note on Thursday, October 10th. TD Cowen raised their target price on shares of NIKE from $71.00 to $78.00 and gave the stock a “hold” rating in a research note on Wednesday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

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.