Oppenheimer Asset Management Inc. Trims Holdings in NIKE, Inc. $NKE

Key Points

• Oppenheimer Asset Management trimmed its NIKE stake by 74.7% in Q4, selling 80,366 shares and retaining 27,167 shares valued at about $1.73 million.
• Company insiders have been buying: Director Timothy D. Cook purchased 25,000 shares at $42.43 and John W. Rogers Jr. bought 4,000, with insiders acquiring 64,441 shares worth $2.73 million in the last 90 days.
• NIKE announced a $0.41 quarterly dividend (annualized $1.64, yield 3.8%) despite a 108.6% payout ratio, while shares trade near a one‑year low around $43 and analysts' consensus rating is "Hold" with an average price target of $62.34.

Oppenheimer Asset Management Inc. reduced its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 74.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,167 shares of the footwear maker's stock after selling 80,366 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in NIKE were worth $1,731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NKE. Brighton Jones LLC raised its position in shares of NIKE by 388.5% during the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock valued at $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NIKE during the 1st quarter valued at approximately $311,000. United Bank raised its position in shares of NIKE by 11.3% during the 2nd quarter. United Bank now owns 17,067 shares of the footwear maker's stock valued at $1,212,000 after acquiring an additional 1,736 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of NIKE by 0.3% during the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker's stock valued at $4,558,000 after acquiring an additional 197 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of NIKE by 6.5% during the 2nd quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker's stock valued at $13,588,000 after acquiring an additional 11,646 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NIKE news, Director Timothy D. Cook purchased 25,000 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was bought at an average price of $42.43 per share, with a total value of $1,060,750.00. Following the completion of the purchase, the director owned 130,480 shares in the company, valued at $5,536,266.40. This trade represents a 23.70% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John W. Rogers, Jr. purchased 4,000 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was acquired at an average cost of $43.34 per share, with a total value of $173,360.00. Following the purchase, the director owned 41,022 shares of the company's stock, valued at approximately $1,777,893.48. This represents a 10.80% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by company insiders.

NIKE Price Performance

Shares of NYSE NKE opened at $43.17 on Tuesday. NIKE, Inc. has a 1-year low of $42.09 and a 1-year high of $80.17. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.14 and a quick ratio of 1.45. The business's fifty day moving average price is $51.39 and its two-hundred day moving average price is $59.65. The firm has a market capitalization of $63.93 billion, a PE ratio of 28.59, a P/E/G ratio of 2.36 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The firm had revenue of $11.28 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same period last year, the company earned $0.54 earnings per share. The firm's revenue for the quarter was up .1% on a year-over-year basis. On average, research analysts expect that NIKE, Inc. will post 1.51 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $1.64 annualized dividend and a dividend yield of 3.8%. NIKE's dividend payout ratio is presently 108.61%.

Analyst Ratings Changes

Several research firms recently issued reports on NKE. Royal Bank Of Canada reissued a "buy" rating on shares of NIKE in a research report on Wednesday, April 1st. DA Davidson lowered NIKE from a "buy" rating to a "neutral" rating and dropped their price target for the company from $72.00 to $46.00 in a research report on Thursday, April 2nd. Barclays dropped their price target on NIKE from $73.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 1st. CICC Research lowered NIKE from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $69.00 to $58.00 in a research report on Monday, April 6th. Finally, Weiss Ratings lowered NIKE from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, April 6th. Seventeen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $62.34.

NIKE Profile

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).

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