Oppenheimer & Co. Inc. Has $3.85 Million Holdings in NIKE, Inc. $NKE

Oppenheimer & Co. Inc. grew its stake in NIKE, Inc. (NYSE:NKE) by 24.8% in the second quarter, HoldingsChannel reports. The fund owned 93,761 shares of the footwear maker’s stock after acquiring an additional 18,617 shares during the period. Oppenheimer & Co. Inc.’s holdings in NIKE were worth $3,849,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in shares of NIKE by 20.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,785 shares of the footwear maker’s stock valued at $196,000 after purchasing an additional 814 shares during the last quarter. Lester Murray Antman dba SimplyRich raised its position in NIKE by 47.2% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 36,182 shares of the footwear maker’s stock worth $1,485,000 after purchasing an additional 11,608 shares during the last quarter. Ballast Inc. raised its position in NIKE by 78.2% in the 2nd quarter. Ballast Inc. now owns 45,737 shares of the footwear maker’s stock worth $1,878,000 after purchasing an additional 20,076 shares during the last quarter. Tema ETFs LLC lifted its holdings in NIKE by 10.8% during the 2nd quarter. Tema ETFs LLC now owns 23,851 shares of the footwear maker’s stock worth $979,000 after buying an additional 2,320 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in NIKE by 23.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 595,016 shares of the footwear maker’s stock worth $24,425,000 after buying an additional 111,625 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Stock Performance

Shares of NIKE stock opened at $40.73 on Friday. The firm has a fifty day moving average of $42.90 and a two-hundred day moving average of $48.73. The stock has a market capitalization of $60.42 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.83 and a beta of 1.11. NIKE, Inc. has a 52 week low of $40.00 and a 52 week high of $80.17. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. During the same period last year, the company earned $0.14 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.41 per share. The ex-dividend date is Tuesday, September 1st. This represents a $1.64 dividend on an annualized basis and a yield of 4.0%. NIKE’s dividend payout ratio (DPR) is 78.47%.

Insider Buying and Selling

In other news, COO Venkatesh Alagirisamy sold 890 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $37,024.00. Following the completion of the sale, the chief operating officer directly owned 74,820 shares of the company’s stock, valued at $3,112,512. This represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $46.18, for a total transaction of $803,439.64. Following the completion of the sale, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This represents a 24.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 26,142 shares of company stock valued at $1,169,380 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NKE has been the subject of several research reports. Zacks Research cut NIKE from a “hold” rating to a “strong sell” rating in a research note on Monday, June 1st. Barclays cut their price target on NIKE from $67.00 to $52.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Stifel Nicolaus set a $45.00 price target on NIKE and gave the company a “hold” rating in a report on Wednesday, July 1st. Argus upgraded NIKE to a “strong-buy” rating in a research report on Wednesday, July 15th. Finally, Guggenheim reiterated a “buy” rating and issued a $60.00 price objective (down from $74.00) on shares of NIKE in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, NIKE has a consensus rating of “Hold” and an average price target of $53.53.

About NIKE

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).