Oppenheimer & Co. Inc. Lowers Holdings in NIKE, Inc. (NYSE:NKE)

Oppenheimer & Co. Inc. trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 8.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 69,557 shares of the footwear maker’s stock after selling 6,212 shares during the period. Oppenheimer & Co. Inc.’s holdings in NIKE were worth $5,263,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in NIKE in the fourth quarter worth approximately $28,000. Caitlin John LLC boosted its position in shares of NIKE by 117.0% during the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after buying an additional 200 shares during the period. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE during the third quarter worth $30,000. Roxbury Financial LLC purchased a new position in shares of NIKE during the fourth quarter worth $30,000. Finally, BankPlus Trust Department purchased a new position in shares of NIKE during the fourth quarter worth $34,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NKE. Deutsche Bank Aktiengesellschaft lowered their price target on NIKE from $92.00 to $82.00 and set a “buy” rating for the company in a research report on Monday, December 16th. Citigroup lowered NIKE from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Royal Bank of Canada lowered their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, November 7th. Telsey Advisory Group restated a “market perform” rating and set a $80.00 price target on shares of NIKE in a research report on Wednesday, February 19th. Finally, Bank of America decreased their target price on NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Fourteen research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average target price of $89.77.

Insider Transactions at NIKE

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

NIKE Stock Down 0.7 %

NKE opened at $79.43 on Friday. The business’s 50-day simple moving average is $74.64 and its 200-day simple moving average is $78.33. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. NIKE, Inc. has a one year low of $68.62 and a one year high of $105.57. The stock has a market capitalization of $117.49 billion, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 2.52 and a beta of 1.01.

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

NIKE Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio (DPR) is currently 49.38%.

NIKE Company 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.