Pinnacle Bancorp Inc. Sells 300 Shares of NIKE, Inc. (NYSE:NKE)

11 Oct 2024, 22:13 by Michael Walen · The Markets Daily

Pinnacle Bancorp Inc. trimmed its holdings in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 7.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,480 shares of the footwear maker’s stock after selling 300 shares during the period. Pinnacle Bancorp Inc.’s holdings in NIKE were worth $308,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock valued at $10,342,012,000 after buying an additional 501,792 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Legal & General Group Plc raised its stake in shares of NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after acquiring an additional 571,544 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock worth $1,072,676,000 after purchasing an additional 211,360 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of NIKE by 45.6% during the first quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock worth $832,623,000 after purchasing an additional 2,775,510 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling

In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Mark G. Parker sold 52,487 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

NIKE Price Performance

NYSE NKE opened at $82.13 on Friday. The firm’s 50 day moving average is $81.33 and its 200-day moving average is $85.79. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $123.14 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE – Get Free Report) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 EPS. Equities research analysts anticipate that NIKE, Inc. will post 2.8 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a $0.37 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s dividend payout ratio is presently 42.41%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on NKE shares. Wedbush dropped their price objective on shares of NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and boosted their target price for the stock from $83.00 to $97.00 in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Barclays dropped their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Finally, Robert W. Baird raised their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Fourteen analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus price target of $96.56.

Read Our Latest Research Report on NKE

NIKE Company Profile

(Free Report)

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.