Pinnacle Wealth Planning Services Inc. Has $296,000 Stake in NIKE, Inc. (NYSE:NKE)

Pinnacle Wealth Planning Services Inc. lowered its position in NIKE, Inc. (NYSE:NKE) by 33.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,913 shares of the footwear maker’s stock after selling 1,967 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in NIKE were worth $296,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC acquired a new stake in NIKE in the fourth quarter valued at $28,000. Caitlin John LLC lifted its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America acquired a new stake in NIKE in the third quarter valued at $30,000. Roxbury Financial LLC acquired a new stake in NIKE in the fourth quarter valued at $30,000. Finally, BankPlus Trust Department acquired a new stake in NIKE in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Trading Up 1.3 %

Shares of NIKE stock opened at $78.68 on Friday. The firm has a market capitalization of $116.38 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. 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 firm’s 50 day moving average is $74.76 and its 200 day moving average is $78.21. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $102.49.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.03 EPS. Equities research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the transaction, the director now owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NKE shares. JPMorgan Chase & Co. cut their price target 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. Jefferies Financial Group upgraded shares of NIKE from a “hold” rating to a “buy” rating and raised their target price for the stock from $75.00 to $115.00 in a research note on Monday, February 24th. Stifel Nicolaus cut their target price 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. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and cut their target price for the stock from $102.00 to $72.00 in a research note on Friday, February 7th. Finally, BMO Capital Markets raised their target price 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. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average price target of $89.77.

NIKE 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.