Oppenheimer & Co. Inc. Grows Position in NIKE, Inc. $NKE

Oppenheimer & Co. Inc. increased its holdings in NIKE, Inc. (NYSE:NKE) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,632 shares of the footwear maker’s stock after acquiring an additional 12,528 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in NIKE were worth $5,392,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Main Street Financial Solutions LLC lifted its stake in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares during the period. Spirepoint Private Client LLC lifted its stake in NIKE by 0.4% in the third quarter. Spirepoint Private Client LLC now owns 36,140 shares of the footwear maker’s stock worth $2,520,000 after acquiring an additional 153 shares during the period. Diligent Investors LLC lifted its stake in NIKE by 4.3% in the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock worth $237,000 after acquiring an additional 153 shares during the period. CVA Family Office LLC lifted its stake in NIKE by 8.0% in the third quarter. CVA Family Office LLC now owns 2,113 shares of the footwear maker’s stock worth $147,000 after acquiring an additional 156 shares during the period. Finally, Naples Global Advisors LLC lifted its stake in NIKE by 1.9% in the third quarter. Naples Global Advisors LLC now owns 8,514 shares of the footwear maker’s stock worth $597,000 after acquiring an additional 159 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NIKE

In related news, Director Timothy D. Cook acquired 25,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were purchased at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the acquisition, the director directly owned 130,480 shares in the company, valued at $5,536,266.40. The trade was a 23.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Elliott Hill acquired 23,660 shares of the business’s stock in a transaction dated Monday, April 13th. The shares were bought at an average price of $42.27 per share, for a total transaction of $1,000,108.20. Following the acquisition, the chief executive officer owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. This represents a 9.79% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have bought 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by insiders.

NIKE Stock Performance

Shares of NIKE stock opened at $44.46 on Friday. NIKE, Inc. has a one year low of $42.09 and a one year high of $80.17. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. The company has a market capitalization of $65.85 billion, a PE ratio of 29.45, a P/E/G ratio of 2.36 and a beta of 1.12. The company has a 50-day simple moving average of $51.39 and a two-hundred day simple moving average of $59.70.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.06. NIKE had a net margin of 4.84% and a return on equity of 16.41%. The firm had revenue of $11.28 billion for the quarter, compared to the consensus estimate of $11.23 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up .1% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 1.51 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were issued a dividend of $0.41 per share. The ex-dividend date was Monday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 3.7%. NIKE’s dividend payout ratio is 108.61%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of research reports. Barclays lowered their price objective on shares of NIKE from $73.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Wall Street Zen downgraded shares of NIKE from a “hold” rating to a “sell” rating in a report on Saturday, April 18th. Stifel Nicolaus reduced their target price on shares of NIKE from $65.00 to $56.00 and set a “hold” rating for the company in a report on Wednesday, April 1st. DZ Bank reiterated a “buy” rating on shares of NIKE in a report on Tuesday, April 21st. Finally, DA Davidson downgraded shares of NIKE from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $72.00 to $46.00 in a report on Thursday, April 2nd. Seventeen equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, NIKE has an average rating of “Hold” and a consensus price target of $62.34.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).