Oppenheimer Asset Management Inc. Cuts Position in NIKE, Inc. $NKE

Oppenheimer Asset Management Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 52.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,815 shares of the footwear maker’s stock after selling 95,810 shares during the period. Oppenheimer Asset Management Inc.’s holdings in NIKE were worth $6,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in NIKE by 388.5% in the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock valued at $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in NIKE by 3.5% in the first quarter. Sequoia Financial Advisors LLC now owns 16,500 shares of the footwear maker’s stock valued at $1,047,000 after purchasing an additional 558 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in NIKE by 5.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 215,000 shares of the footwear maker’s stock valued at $13,608,000 after purchasing an additional 11,968 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in NIKE by 33.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 549,002 shares of the footwear maker’s stock valued at $35,553,000 after purchasing an additional 138,753 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in NIKE by 11.9% in the first quarter. Golden State Wealth Management LLC now owns 2,905 shares of the footwear maker’s stock valued at $184,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NKE. Barclays set a $70.00 price objective on NIKE and gave the company a “positive” rating in a research note on Wednesday, October 1st. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the stock from $62.00 to $85.00 in a research report on Wednesday, September 10th. Sanford C. Bernstein restated a “buy” rating and set a $90.00 target price on shares of NIKE in a research report on Monday, October 13th. Argus upgraded NIKE to a “buy” rating in a research report on Sunday, July 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $78.00 target price on shares of NIKE in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, NIKE currently has an average rating of “Moderate Buy” and a consensus target price of $82.21.

NIKE Stock Performance

NYSE:NKE opened at $68.51 on Tuesday. The stock has a market cap of $101.26 billion, a P/E ratio of 35.13, a PEG ratio of 2.55 and a beta of 1.29. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $72.20 and its two-hundred day moving average price is $68.01. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $82.44.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.22. The company had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. NIKE’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.70 earnings per share. As a group, equities analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is 82.05%.

Insider Activity at NIKE

In related news, EVP Treasure Heinle sold 4,300 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

About NIKE

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.