Pinnacle Wealth Management Advisory Group LLC Boosts Stock Position in NIKE, Inc. (NYSE:NKE)

Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 29.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,306 shares of the footwear maker’s stock after buying an additional 1,672 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in NIKE were worth $793,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NKE. Verdence Capital Advisors LLC raised its position in shares of NIKE by 15.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,028 shares of the footwear maker’s stock valued at $385,000 after buying an additional 525 shares during the period. FORVIS Wealth Advisors LLC grew its holdings in shares of NIKE by 3.7% during the 3rd quarter. FORVIS Wealth Advisors LLC now owns 7,650 shares of the footwear maker’s stock worth $731,000 after purchasing an additional 270 shares during the period. Altfest L J & Co. Inc. increased its position in shares of NIKE by 6.0% during the 3rd quarter. Altfest L J & Co. Inc. now owns 6,494 shares of the footwear maker’s stock worth $621,000 after purchasing an additional 366 shares during the last quarter. Graypoint LLC raised its holdings in NIKE by 3.3% in the 3rd quarter. Graypoint LLC now owns 6,218 shares of the footwear maker’s stock valued at $595,000 after buying an additional 201 shares during the period. Finally, Conning Inc. lifted its position in NIKE by 3.6% in the third quarter. Conning Inc. now owns 50,033 shares of the footwear maker’s stock valued at $4,784,000 after buying an additional 1,761 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock traded down $0.19 during trading hours on Wednesday, reaching $93.59. 5,372,445 shares of the company’s stock were exchanged, compared to its average volume of 9,174,146. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. NIKE, Inc. has a 1 year low of $88.66 and a 1 year high of $126.46. The company has a market cap of $141.26 billion, a P/E ratio of 27.53, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company’s 50 day moving average is $95.28 and its two-hundred day moving average is $102.91.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Equities research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. NIKE’s payout ratio is 43.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reduced their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Evercore ISI lowered their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Jefferies Financial Group cut their price objective on NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Friday, March 22nd. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price objective (down from $110.00) on shares of NIKE in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

Insider Buying and Selling at NIKE

In other news, EVP Monique S. Matheson sold 45,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $94.16, for a total value of $4,237,200.00. Following the sale, the executive vice president now directly owns 44,997 shares in the company, valued at $4,236,917.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

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.