PNC Financial Services Group Inc. Trims Position in NIKE, Inc. (NYSE:NKE)

PNC Financial Services Group Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,355,595 shares of the footwear maker’s stock after selling 79,245 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.09% of NIKE worth $102,578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in shares of NIKE in the 4th quarter worth about $28,000. Caitlin John LLC raised its stake in NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America purchased a new stake in NIKE in the third quarter worth about $30,000. Roxbury Financial LLC bought a new stake in NIKE during the 4th quarter valued at approximately $30,000. Finally, BankPlus Trust Department purchased a new position in shares of NIKE during the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

NIKE Trading Up 1.3 %

Shares of NYSE:NKE opened at $78.68 on Friday. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $102.49. The company has a market cap of $116.38 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 2.52 and a beta of 1.02. The stock has a 50 day moving average of $74.76 and a 200 day moving average of $78.18. 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 (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business 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 company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.03%. NIKE’s dividend payout ratio is presently 49.38%.

Wall Street Analyst Weigh In

NKE has been the topic of several research reports. Robert W. Baird dropped their price target on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a report on Monday, December 16th. TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Evercore ISI dropped their price objective on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Finally, Stifel Nicolaus decreased their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.77.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

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.