Oppenheimer Asset Management Inc. Grows Stock Holdings in NIKE, Inc. (NYSE:NKE)

Oppenheimer Asset Management Inc. boosted its holdings in NIKE, Inc. (NYSE:NKE) by 14.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 182,625 shares of the footwear maker’s stock after purchasing an additional 22,417 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in NIKE were worth $11,593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter worth about $28,000. LFA Lugano Financial Advisors SA boosted its stake in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares during the period. Hopwood Financial Services Inc. purchased a new stake in NIKE during the 4th quarter valued at approximately $30,000. EnRich Financial Partners LLC raised its position in shares of NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after buying an additional 273 shares during the last quarter. Finally, BankPlus Trust Department bought a new stake in shares of NIKE during the fourth quarter valued at approximately $34,000. 64.25% of the stock is owned by institutional investors.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of the stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NKE. Piper Sandler cut their target price on shares of NIKE from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Citigroup dropped their price objective on shares of NIKE from $72.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Stifel Nicolaus reduced their target price on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. China Renaissance began coverage on NIKE in a research note on Wednesday, March 19th. They set a “hold” rating for the company. Finally, BMO Capital Markets cut their price target on NIKE from $95.00 to $92.00 and set an “outperform” rating for the company in a report on Friday, March 21st. Sixteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and a consensus price target of $78.74.

NIKE Stock Up 1.7%

Shares of NYSE:NKE opened at $60.81 on Tuesday. The business has a 50-day moving average price of $59.89 and a 200 day moving average price of $67.82. The company has a current ratio of 2.19, a quick ratio of 1.52 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $89.95 billion, a price-to-earnings ratio of 20.20, a PEG ratio of 2.11 and a beta of 1.21. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is 53.16%.

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.