WealthPlan Investment Management LLC Sells 50,230 Shares of NIKE, Inc. $NKE

WealthPlan Investment Management LLC reduced its stake in shares of NIKE, Inc. (NYSE:NKE) by 54.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,253 shares of the footwear maker’s stock after selling 50,230 shares during the quarter. WealthPlan Investment Management LLC’s holdings in NIKE were worth $2,628,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in NKE. Brighton Jones LLC increased its stake in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares during the last quarter. Caxton Associates LLP bought a new stake in NIKE during the first quarter worth approximately $311,000. United Bank increased its stake in NIKE by 11.3% during the second quarter. United Bank now owns 17,067 shares of the footwear maker’s stock worth $1,212,000 after acquiring an additional 1,736 shares during the last quarter. NewEdge Advisors LLC increased its stake in NIKE by 0.3% during the second quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker’s stock worth $4,558,000 after acquiring an additional 197 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in NIKE by 6.5% during the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker’s stock worth $13,588,000 after acquiring an additional 11,646 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 0.3%

NKE opened at $41.88 on Friday. The stock has a market cap of $62.03 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 2.22 and a beta of 1.12. The stock’s 50 day moving average price is $47.89 and its 200-day moving average price is $58.11. NIKE, Inc. has a one year low of $41.70 and a one year high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The firm had revenue of $11.28 billion for the quarter, compared to analysts’ expectations of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.41 dividend. The ex-dividend date is Monday, June 1st. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.9%. NIKE’s payout ratio is presently 108.61%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial reduced their price objective on NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings cut NIKE from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 4th. Berenberg Bank reaffirmed a “neutral” rating on shares of NIKE in a research note on Wednesday, May 6th. Bank of America reaffirmed a “neutral” rating and set a $55.00 target price (down from $73.00) on shares of NIKE in a research note on Wednesday, April 1st. Finally, Robert W. Baird cut their target price on NIKE from $85.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 1st. Sixteen equities research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, NIKE has a consensus rating of “Hold” and an average price target of $62.04.

Insider Transactions at NIKE

In other news, Director Robert Holmes Swan purchased 11,781 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was purchased at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the acquisition, the director owned 55,074 shares of the company’s stock, valued at approximately $2,337,340.56. This trade represents a 27.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Timothy D. Cook purchased 25,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was purchased at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the acquisition, the director directly owned 130,480 shares of the company’s stock, valued at $5,536,266.40. This trade represents a 23.70% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 64,441 shares of company stock worth $2,734,204 over the last three months. Company insiders own 0.80% of the company’s stock.

NIKE Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).