Pinnacle Wealth Management Advisory Group LLC Acquires 1,672 Shares of NIKE, Inc. (NYSE:NKE)

Pinnacle Wealth Management Advisory Group LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 29.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,306 shares of the footwear maker’s stock after purchasing an additional 1,672 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in NIKE were worth $793,000 at the end of the most recent quarter.

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

Insider Transactions at NIKE

In related news, EVP Monique S. Matheson sold 45,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 44,997 shares in the company, valued at approximately $4,236,917.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.50% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

NIKE stock traded down $0.19 during midday trading 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 quick ratio of 1.89 and a current ratio of 2.74. The stock’s 50-day simple moving average is $95.28 and its 200 day simple moving average is $102.91. The firm has a market cap of $141.26 billion, a price-to-earnings ratio of 27.53, a P/E/G ratio of 1.78 and a beta of 1.07. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $126.46.

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

NIKE Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on NKE shares. The Goldman Sachs Group cut their price target on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 price target (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Telsey Advisory Group dropped their price objective on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. UBS Group dropped their price objective on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Citigroup reduced their target price on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.26.

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.