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

Pinnacle Wealth Planning Services Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 33.5% during the fourth quarter, HoldingsChannel reports. The firm owned 3,913 shares of the footwear maker’s stock after selling 1,967 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in NIKE were worth $296,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the 4th quarter valued at $28,000. Caitlin John LLC boosted its stake in shares of NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE in the 3rd quarter valued at $30,000. Roxbury Financial LLC bought a new stake in shares of NIKE in the 4th quarter valued at $30,000. Finally, BankPlus Trust Department bought a new stake in shares of NIKE in the 4th quarter valued at $34,000. 64.25% of the stock is owned by institutional investors.

NIKE Stock Performance

Shares of NKE stock opened at $78.68 on Friday. The firm has a 50-day moving average of $74.76 and a 200-day moving average of $78.21. The company has a market cap of $116.38 billion, a P/E ratio of 24.28, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a one year low of $68.62 and a one year high of $102.49.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. The company had revenue of $12.35 billion during 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 for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. Equities research analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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 given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.03%. NIKE’s payout ratio is currently 49.38%.

Analyst Ratings Changes

NKE has been the topic of a number of analyst reports. Dbs Bank raised shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Barclays cut their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. UBS Group reissued a “neutral” rating and set a $73.00 target price on shares of NIKE in a research note on Thursday, December 26th. Deutsche Bank Aktiengesellschaft cut their target price on shares of NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research note on Monday, December 16th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $80.00 target price on shares of NIKE in a research note on Wednesday, February 19th. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and an average target price of $89.77.

Insider Activity at NIKE

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