CFC Planning Co LLC Makes New $3.91 Million Investment in NIKE, Inc. (NYSE:NKE)

CFC Planning Co LLC acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 51,717 shares of the footwear maker’s stock, valued at approximately $3,913,000. NIKE makes up 4.2% of CFC Planning Co LLC’s investment portfolio, making the stock its 4th largest position.

Several other institutional investors and hedge funds have also modified their holdings of NKE. Rooted Wealth Advisors Inc. bought a new position in NIKE during the 4th quarter worth about $212,000. Catalyst Financial Partners LLC boosted its position in shares of NIKE by 12.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 3,665 shares of the footwear maker’s stock worth $277,000 after buying an additional 407 shares during the period. IMS Capital Management grew its holdings in shares of NIKE by 8.8% during the fourth quarter. IMS Capital Management now owns 24,113 shares of the footwear maker’s stock worth $1,825,000 after buying an additional 1,952 shares in the last quarter. Asset Management One Co. Ltd. raised its position in NIKE by 3.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 598,091 shares of the footwear maker’s stock valued at $45,706,000 after buying an additional 18,946 shares during the last quarter. Finally, Life Planning Partners Inc bought a new stake in NIKE in the 4th quarter valued at approximately $11,183,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.10% of the company’s stock.

NIKE Trading Up 1.4 %

NKE stock opened at $73.25 on Friday. NIKE, Inc. has a 52 week low of $68.62 and a 52 week high of $107.34. The company has a market capitalization of $108.35 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The company’s 50-day simple moving average is $74.68 and its 200 day simple moving average is $78.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The business’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Analysts Set New Price Targets

NKE has been the subject of several research reports. BMO Capital Markets raised their price target on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Royal Bank of Canada lowered their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Stifel Nicolaus reduced their price objective on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Finally, Robert W. Baird lowered their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.62.

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.