Life Planning Partners Inc Acquires Shares of 147,784 NIKE, Inc. (NYSE:NKE)

Life Planning Partners Inc bought a new position in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 147,784 shares of the footwear maker’s stock, valued at approximately $11,183,000. NIKE makes up about 1.6% of Life Planning Partners Inc’s portfolio, making the stock its 18th largest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. JNBA Financial Advisors increased its holdings in NIKE by 1.3% during the 4th quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock worth $760,000 after purchasing an additional 131 shares in the last quarter. Frisch Financial Group Inc. grew its holdings in NIKE by 4.7% during the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock worth $269,000 after buying an additional 136 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its stake in NIKE by 0.7% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after acquiring an additional 136 shares in the last quarter. GAMMA Investing LLC boosted its holdings in NIKE by 1.0% during the 4th quarter. GAMMA Investing LLC now owns 15,014 shares of the footwear maker’s stock worth $1,136,000 after acquiring an additional 150 shares during the last quarter. Finally, Game Plan Financial Advisors LLC grew its stake in shares of NIKE by 11.1% in the 4th quarter. Game Plan Financial Advisors LLC now owns 1,500 shares of the footwear maker’s stock worth $114,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NKE shares. Royal Bank of Canada dropped their price target on shares of NIKE from $67.00 to $66.00 and set a “sector perform” rating on the stock in a research report on Friday, March 21st. BMO Capital Markets cut their target price on NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. Morgan Stanley decreased their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Citigroup cut NIKE from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Finally, Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.38.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

Shares of NKE opened at $63.32 on Friday. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average price of $74.16 and a 200-day moving average price of $76.93. The company has a market cap of $93.65 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 12-month low of $63.14 and a 12-month high of $98.04.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.40 dividend. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. NIKE’s payout ratio is 53.16%.

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.