Oppenheimer Asset Management Inc. boosted its stake in Nike Inc (NYSE:NKE) by 27.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 43,202 shares of the footwear maker’s stock after acquiring an additional 9,390 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Nike were worth $2,239,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in NKE. Asset Planning Services Ltd. lifted its holdings in Nike by 0.3% in 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 in the last quarter. Stearns Financial Services Group raised its holdings in shares of Nike by 0.4% during the 2nd quarter. Stearns Financial Services Group now owns 4,160 shares of the footwear maker’s stock worth $245,000 after acquiring an additional 17 shares during the period. Smith Shellnut Wilson LLC ADV raised its holdings in shares of Nike by 0.3% during the 2nd quarter. Smith Shellnut Wilson LLC ADV now owns 14,894 shares of the footwear maker’s stock worth $822,000 after acquiring an additional 41 shares during the period. Buckingham Asset Management LLC raised its holdings in shares of Nike by 0.7% during the 2nd quarter. Buckingham Asset Management LLC now owns 6,797 shares of the footwear maker’s stock worth $401,000 after acquiring an additional 45 shares during the period. Finally, Sullivan Bruyette Speros & Blaney LLC raised its holdings in shares of Nike by 1.0% during the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 6,048 shares of the footwear maker’s stock worth $357,000 after acquiring an additional 61 shares during the period. 62.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Nike Inc (NKE) traded up $3.00 during mid-day trading on Friday, reaching $65.49. The company had a trading volume of 13,692,782 shares, compared to its average volume of 8,160,000. Nike Inc has a 52-week low of $50.35 and a 52-week high of $68.83. The firm has a market capitalization of $106,850.00, a price-to-earnings ratio of 28.35, a PEG ratio of 2.96 and a beta of 0.68. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 1.67.
Nike (NYSE:NKE) last announced its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.39 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. Nike’s quarterly revenue was up 4.6% on a year-over-year basis. equities research analysts anticipate that Nike Inc will post 2.26 earnings per share for the current year.
In other Nike news, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction on Wednesday, December 27th. The stock was sold at an average price of $63.10, for a total value of $14,263,124.00. Following the sale, the insider now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $65.00, for a total value of $8,775,000.00. Following the completion of the sale, the chairman now directly owns 1,502,830 shares in the company, valued at approximately $97,683,950. The disclosure for this sale can be found here. Insiders have sold 932,896 shares of company stock worth $59,594,217 in the last ninety days. 3.90% of the stock is currently owned by corporate insiders.
Several research analysts have recently commented on the company. B. Riley reiterated a “neutral” rating on shares of Nike in a report on Wednesday, November 1st. Stifel Nicolaus reiterated a “buy” rating and set a $74.00 price target on shares of Nike in a report on Friday, December 22nd. Macquarie set a $72.00 price objective on Nike and gave the stock a “buy” rating in a research report on Thursday, January 11th. Cowen set a $64.00 price objective on Nike and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, Barclays set a $71.00 price objective on Nike and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-three have issued a buy rating to the company. Nike has a consensus rating of “Buy” and a consensus price target of $65.37.
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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