Oppenheimer Asset Management Inc. Lowers Stock Position in NIKE, Inc. (NYSE:NKE)

Oppenheimer Asset Management Inc. cut its position in shares of NIKE, Inc. (NYSE:NKE) by 31.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 177,487 shares of the footwear maker’s stock after selling 83,036 shares during the period. Oppenheimer Asset Management Inc.’s holdings in NIKE were worth $15,690,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in NKE. Koshinski Asset Management Inc. purchased a new stake in NIKE during the first quarter worth $713,000. Kingsview Wealth Management LLC raised its position in NIKE by 17.3% during the first quarter. Kingsview Wealth Management LLC now owns 63,978 shares of the footwear maker’s stock worth $6,013,000 after acquiring an additional 9,418 shares during the period. Blair William & Co. IL raised its position in NIKE by 4.1% during the first quarter. Blair William & Co. IL now owns 379,806 shares of the footwear maker’s stock worth $35,694,000 after acquiring an additional 14,934 shares during the period. Orion Portfolio Solutions LLC raised its position in NIKE by 14.0% during the first quarter. Orion Portfolio Solutions LLC now owns 73,071 shares of the footwear maker’s stock worth $6,867,000 after acquiring an additional 8,947 shares during the period. Finally, Brighton Jones LLC raised its position in NIKE by 6.4% during the first quarter. Brighton Jones LLC now owns 202,691 shares of the footwear maker’s stock worth $19,049,000 after acquiring an additional 12,116 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Trading Down 0.2 %

NYSE NKE opened at $76.51 on Thursday. The firm has a 50 day simple moving average of $81.16 and a 200-day simple moving average of $83.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a market cap of $114.72 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the firm posted $0.94 earnings per share. The business’s revenue for the quarter was down 10.4% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Robert W. Baird upped their price objective 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. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and upped their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Guggenheim reduced their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Evercore ISI reduced their target price on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

NIKE 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.