Oppenheimer Asset Management Inc. Sells 17,279 Shares of NIKE, Inc. (NYSE:NKE)

Oppenheimer Asset Management Inc. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 9.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 160,208 shares of the footwear maker’s stock after selling 17,279 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in NIKE were worth $12,123,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Avitas Wealth Management LLC lifted its position in NIKE by 10.3% in the 3rd quarter. Avitas Wealth Management LLC now owns 6,218 shares of the footwear maker’s stock valued at $550,000 after acquiring an additional 580 shares in the last quarter. Great Diamond Partners LLC purchased a new position in shares of NIKE in the third quarter worth $222,000. First Trust Direct Indexing L.P. lifted its holdings in shares of NIKE by 2.9% during the third quarter. First Trust Direct Indexing L.P. now owns 32,965 shares of the footwear maker’s stock valued at $2,914,000 after purchasing an additional 937 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of NIKE by 10.5% during the third quarter. Pinnacle Associates Ltd. now owns 26,403 shares of the footwear maker’s stock valued at $2,334,000 after buying an additional 2,510 shares during the last quarter. Finally, Diversify Wealth Management LLC boosted its position in shares of NIKE by 5.4% during the third quarter. Diversify Wealth Management LLC now owns 16,046 shares of the footwear maker’s stock valued at $1,418,000 after buying an additional 829 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 1.6 %

Shares of NIKE stock opened at $79.86 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The company has a fifty day moving average of $74.59 and a 200 day moving average of $78.29. The company has a market capitalization of $118.13 billion, a P/E ratio of 24.65, a P/E/G ratio of 2.52 and a beta of 1.01. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $105.57.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.03 earnings per share. On average, sell-side analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is currently 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction on Friday, December 27th. The shares were bought at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the acquisition, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Evercore ISI lowered their target price on shares of NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research note on Monday, December 16th. Guggenheim reissued a “buy” rating and set a $110.00 price objective on shares of NIKE in a report on Wednesday, February 12th. TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Bank of America decreased their target price on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, UBS Group reissued a “neutral” rating and set a $73.00 price target on shares of NIKE in a report on Thursday, December 26th. Fourteen analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $89.77.

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.