Oppenheimer Asset Management Inc. raised its stake in shares of Nike Inc (NYSE:NKE) by 27.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 43,202 shares of the footwear maker’s stock after purchasing an additional 9,390 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Nike were worth $2,239,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Asset Planning Services Ltd. boosted its stake in Nike by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 2,132 shares of the footwear maker’s stock valued at $126,000 after purchasing an additional 7 shares during the last quarter. Willingdon Wealth Management acquired a new position in Nike during the 3rd quarter valued at about $114,000. Atlantic Trust LLC acquired a new position in Nike during the 2nd quarter valued at about $136,000. Kistler Tiffany Companies LLC boosted its stake in Nike by 91.7% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,527 shares of the footwear maker’s stock valued at $149,000 after purchasing an additional 1,209 shares during the last quarter. Finally, Howe & Rusling Inc. boosted its stake in Nike by 751.3% during the 3rd quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock valued at $137,000 after purchasing an additional 2,329 shares during the last quarter. Institutional investors and hedge funds own 62.75% of the company’s stock.
Shares of Nike Inc (NKE) opened at $67.21 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The company has a market cap of $104,303.05, a P/E ratio of 29.10, a P/E/G ratio of 2.91 and a beta of 0.64. Nike Inc has a 1-year low of $50.35 and a 1-year high of $67.24.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were issued a dividend of $0.20 per share. This is a boost from Nike’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.19%. Nike’s payout ratio is presently 34.63%.
In other Nike news, COO Eric D. Sprunk sold 226,040 shares of the business’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the sale, the chief operating officer now owns 165,591 shares of the company’s stock, valued at approximately $10,448,792.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now directly owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders have sold a total of 967,896 shares of company stock worth $60,257,267 in the last three months. Insiders own 3.90% of the company’s stock.
A number of equities analysts have recently weighed in on NKE shares. Vetr upgraded Nike from a “buy” rating to a “strong-buy” rating and set a $57.97 target price on the stock in a research note on Wednesday, October 4th. Susquehanna Bancshares restated a “hold” rating and issued a $57.00 target price on shares of Nike in a research note on Wednesday, December 13th. DA Davidson boosted their target price on Nike from $68.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, December 26th. Barclays set a $75.00 target price on Nike and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Finally, Buckingham Research started coverage on Nike in a research note on Saturday, January 6th. They issued a “buy” rating and a $72.00 target price on the stock. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.94.
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NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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