Oppenheimer Asset Management Inc. Sells 83,036 Shares of NIKE, Inc. (NYSE:NKE)

Oppenheimer Asset Management Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 31.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,487 shares of the footwear maker's stock after selling 83,036 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in NIKE were worth $15,690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transcendent Capital Group LLC boosted its holdings in shares of NIKE by 97.6% in the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker's stock worth $38,000 after buying an additional 200 shares during the last quarter. VitalStone Financial LLC grew its position in shares of NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after acquiring an additional 150 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker's stock worth $39,000 after purchasing an additional 376 shares during the last quarter. Triad Wealth Partners LLC bought a new position in NIKE during the second quarter valued at $44,000. Finally, MFA Wealth Advisors LLC bought a new position in NIKE during the second quarter valued at $46,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Down 1.1 %

Shares of NKE stock traded down $0.85 during trading hours on Thursday, hitting $75.67. 6,974,599 shares of the company's stock traded hands, compared to its average volume of 11,479,373. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock's fifty day simple moving average is $81.07 and its two-hundred day simple moving average is $83.44. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39. The stock has a market cap of $113.46 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company's revenue for the quarter was down 10.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.94 earnings per share. On average, analysts expect that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. This is a boost from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.11%. NIKE's payout ratio is 42.41%.

Analysts Set New Price Targets

NKE has been the subject of a number of research reports. Robert W. Baird increased their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Williams Trading raised shares of NIKE from a "sell" rating to a "buy" rating and boosted their target price for the company from $67.00 to $93.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price target on NIKE from $95.00 to $92.00 and set a "buy" rating for the company in a report on Wednesday, October 2nd. Piper Sandler reissued a "neutral" rating and set a $80.00 price objective on shares of NIKE in a report on Friday, September 20th. Finally, Daiwa America lowered NIKE from a "moderate buy" rating to a "hold" rating in a report on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.48.

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.