Planning Capital Management Corp Reduces Stock Position in NIKE, Inc. (NYSE:NKE)

Planning Capital Management Corp cut its holdings in shares of NIKE, Inc. (NYSE:NKE) by 47.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 917 shares of the footwear maker’s stock after selling 817 shares during the quarter. Planning Capital Management Corp’s holdings in NIKE were worth $81,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Transcendent Capital Group LLC increased its holdings in NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 200 shares during the last quarter. VitalStone Financial LLC increased its holdings 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 last quarter. Bruce G. Allen Investments LLC increased its holdings 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 last quarter. Triad Wealth Partners LLC bought a new stake in shares of NIKE in the 2nd quarter valued at approximately $44,000. Finally, Riverview Trust Co bought a new stake in shares of NIKE in the 3rd quarter valued at approximately $52,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Stock Down 0.2 %

Shares of NIKE stock opened at $76.51 on Thursday. The stock’s fifty day moving average is $81.07 and its 200-day moving average is $83.44. The firm has a market capitalization of $114.72 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 earnings per share. Equities analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NKE. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and boosted their price target for the company from $67.00 to $93.00 in a report on Friday, August 16th. Sanford C. Bernstein lowered their price target on NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Jefferies Financial Group boosted their price target on NIKE from $80.00 to $85.00 and gave the company a “hold” rating in a report on Monday, September 30th. Evercore ISI lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Robert W. Baird upped their price objective on NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and a consensus 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.