Pinnacle Wealth Management Advisory Group LLC Sells 246 Shares of NIKE, Inc. (NYSE:NKE)

Pinnacle Wealth Management Advisory Group LLC trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,675 shares of the footwear maker’s stock after selling 246 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in NIKE were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NKE. Garrison Point Advisors LLC boosted its holdings in shares of NIKE by 1.9% during the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the last quarter. PSI Advisors LLC lifted its holdings in NIKE by 26.3% in the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares during the last quarter. JNBA Financial Advisors lifted its holdings in NIKE by 1.3% in the fourth quarter. JNBA Financial Advisors now owns 10,045 shares of the footwear maker’s stock valued at $760,000 after acquiring an additional 131 shares during the last quarter. Frisch Financial Group Inc. raised its position in NIKE by 4.7% in the third quarter. Frisch Financial Group Inc. now owns 3,036 shares of the footwear maker’s stock valued at $269,000 after purchasing an additional 136 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its position in NIKE by 0.7% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 20,446 shares of the footwear maker’s stock valued at $1,547,000 after purchasing an additional 136 shares during the period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Transactions at NIKE

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

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating and issued a $110.00 target price on shares of NIKE in a research report on Wednesday, February 12th. Truist Financial dropped their target price on NIKE from $97.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Needham & Company LLC restated a “buy” rating and issued a $84.00 price objective on shares of NIKE in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research note on Monday, December 2nd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $80.00 price objective on shares of NIKE in a research note on Thursday, February 6th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

NIKE Trading Down 0.3 %

Shares of NIKE stock opened at $73.02 on Tuesday. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34. 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 market cap of $108.00 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The company has a 50-day moving average of $74.46 and a two-hundred day moving average of $78.05.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating 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 company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period last year, the company posted $1.03 earnings per share. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. NIKE’s dividend payout ratio (DPR) is 49.38%.

NIKE Company Profile

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.