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

Oppenheimer Asset Management Inc. trimmed its stake in NIKE, Inc. (NYSE:NKE) by 31.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Pinnacle Financial Partners Inc boosted its position in NIKE by 35.2% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 166,633 shares of the footwear maker’s stock valued at $14,730,000 after buying an additional 43,397 shares during the period. Rossmore Private Capital raised its holdings in shares of NIKE by 9.4% in the 3rd quarter. Rossmore Private Capital now owns 28,345 shares of the footwear maker’s stock valued at $2,564,000 after purchasing an additional 2,425 shares in the last quarter. Hamel Associates Inc. raised its holdings in shares of NIKE by 1,834.2% in the 3rd quarter. Hamel Associates Inc. now owns 65,860 shares of the footwear maker’s stock valued at $5,822,000 after purchasing an additional 62,455 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of NIKE by 5.2% in the 3rd quarter. Victory Capital Management Inc. now owns 748,386 shares of the footwear maker’s stock valued at $66,157,000 after purchasing an additional 37,035 shares in the last quarter. Finally, Missouri Trust & Investment Co raised its holdings in shares of NIKE by 10.6% in the 3rd quarter. Missouri Trust & Investment Co now owns 18,604 shares of the footwear maker’s stock valued at $1,645,000 after purchasing an additional 1,779 shares in the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NKE shares. Royal Bank of Canada reduced their price target on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Piper Sandler restated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a report on Friday, September 20th. TD Cowen boosted their price target on shares of NIKE from $71.00 to $78.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Truist Financial upgraded shares of NIKE from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.48.

NIKE Stock Down 0.2 %

NKE stock opened at $76.51 on Thursday. The firm’s fifty day simple moving average is $81.16 and its 200-day simple moving average is $83.49. The company has a market capitalization of $114.72 billion, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.39.

NIKE (NYSE:NKE) last released 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. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.94 EPS. As a group, equities research analysts forecast that NIKE, Inc. will post 2.74 earnings per share for the current year.

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.