Oppenheimer Asset Management Inc. Sells 95,810 Shares of NIKE, Inc. $NKE

Oppenheimer Asset Management Inc. reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 52.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after acquiring an additional 4,957,494 shares during the period. Wellington Management Group LLP grew its holdings in NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Bank of New York Mellon Corp grew its holdings in NIKE by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 20,988,207 shares of the footwear maker’s stock worth $1,332,331,000 after acquiring an additional 620,214 shares during the period. Finally, Flossbach Von Storch SE grew its holdings in NIKE by 24.0% during the 1st quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after acquiring an additional 1,988,547 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NIKE

In other news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The stock was 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 owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. 0.80% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on NKE. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and increased their price target for the stock from $62.00 to $85.00 in a report on Wednesday, September 10th. Stifel Nicolaus set a $68.00 target price on NIKE and gave the company a “hold” rating in a research note on Wednesday, October 1st. Zacks Research upgraded NIKE from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 26th. Cowen upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Finally, Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Price Performance

Shares of NYSE NKE opened at $68.51 on Tuesday. NIKE, Inc. has a fifty-two week low of $52.28 and a fifty-two week high of $82.44. The stock has a market cap of $101.26 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 2.55 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The firm’s 50-day simple moving average is $72.20 and its 200 day simple moving average is $68.01.

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

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.3%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

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.