Pinnacle Wealth Planning Services Inc. Sells 1,967 Shares of NIKE, Inc. (NYSE:NKE)

Pinnacle Wealth Planning Services Inc. trimmed its stake in shares of NIKE, Inc. (NYSE:NKE) by 33.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NKE. Brighton Jones LLC increased its holdings in NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of NIKE by 7.5% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 20,737 shares of the footwear maker’s stock valued at $1,569,000 after purchasing an additional 1,449 shares in the last quarter. PFG Investments LLC increased its holdings in shares of NIKE by 217.5% in the fourth quarter. PFG Investments LLC now owns 25,951 shares of the footwear maker’s stock worth $1,964,000 after purchasing an additional 17,778 shares during the period. Kingswood Wealth Advisors LLC raised its position in shares of NIKE by 5.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 19,942 shares of the footwear maker’s stock worth $1,509,000 after buying an additional 1,032 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in NIKE by 25.3% during the fourth quarter. Blue Trust Inc. now owns 14,984 shares of the footwear maker’s stock valued at $1,134,000 after buying an additional 3,029 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NKE stock opened at $62.78 on Wednesday. The stock has a market capitalization of $92.86 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 2.52 and a beta of 1.23. The firm’s 50-day moving average price is $59.45 and its two-hundred day moving average price is $69.95. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period last year, the firm earned $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. NIKE’s dividend payout ratio is currently 53.16%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NKE. Wells Fargo & Company upped their target price on NIKE from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. Berenberg Bank initiated coverage on shares of NIKE in a research report on Tuesday, April 15th. They issued a “hold” rating and a $58.00 price objective on the stock. UBS Group dropped their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. China Renaissance initiated coverage on shares of NIKE in a research note on Wednesday, March 19th. They issued a “hold” rating for the company. Finally, Piper Sandler lowered their price objective on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $80.26.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares in the company, valued at $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.

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.