Obermeyer Wealth Partners Cuts Stake in NIKE, Inc. (NYSE:NKE)

Obermeyer Wealth Partners lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 36.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,955 shares of the footwear maker’s stock after selling 1,683 shares during the period. Obermeyer Wealth Partners’ holdings in NIKE were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of NKE. Minot DeBlois Advisors LLC purchased a new stake in NIKE during the 4th quarter worth approximately $42,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of NIKE by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 227,177 shares of the footwear maker’s stock worth $17,190,000 after purchasing an additional 11,501 shares in the last quarter. Investor s Fiduciary Advisor Network LLC purchased a new stake in shares of NIKE during the fourth quarter worth approximately $383,000. Janus Henderson Group PLC increased its position in shares of NIKE by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker’s stock worth $460,160,000 after purchasing an additional 463,470 shares in the last quarter. Finally, Jasper Ridge Partners L.P. grew its holdings in shares of NIKE by 2.3% during the fourth quarter. Jasper Ridge Partners L.P. now owns 186,466 shares of the footwear maker’s stock worth $14,110,000 after buying an additional 4,153 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Guggenheim reaffirmed a “buy” rating and set a $110.00 target price on shares of NIKE in a report on Wednesday, February 12th. Williams Trading dropped their price objective on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Morgan Stanley dropped their price target on NIKE from $72.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. dropped their price target on NIKE from $64.00 to $56.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Finally, Dbs Bank upgraded NIKE from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NIKE presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.11.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Holmes Swan purchased 8,600 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Stock Performance

Shares of NKE stock opened at $62.35 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The stock has a market capitalization of $92.22 billion, a PE ratio of 19.24, a P/E/G ratio of 2.52 and a beta of 1.23. The firm has a 50 day moving average of $61.91 and a two-hundred day moving average of $71.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the business posted $0.98 earnings per share. On average, research analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s payout ratio is presently 53.16%.

NIKE 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.