OppenheimerFunds Inc. trimmed its position in shares of Nike Inc (NYSE:NKE) by 1.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 389,179 shares of the footwear maker’s stock after selling 5,184 shares during the period. OppenheimerFunds Inc.’s holdings in Nike were worth $24,343,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Field & Main Bank acquired a new position in Nike during the fourth quarter worth $100,000. SeaCrest Wealth Management LLC acquired a new position in Nike during the fourth quarter worth $128,000. First Dallas Securities Inc. acquired a new position in Nike during the fourth quarter worth $128,000. Willingdon Wealth Management acquired a new position in Nike during the third quarter worth $114,000. Finally, Atlantic Trust LLC acquired a new position in Nike during the second quarter worth $136,000. Institutional investors and hedge funds own 65.76% of the company’s stock.
In related news, insider Eric D. Sprunk sold 226,040 shares of the company’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $65.00, for a total transaction of $8,775,000.00. Following the sale, the chairman now directly owns 1,502,830 shares of the company’s stock, valued at approximately $97,683,950. The disclosure for this sale can be found here. Insiders have sold 1,057,896 shares of company stock valued at $68,424,217 in the last ninety days. 3.90% of the stock is currently owned by company insiders.
Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.39 billion. Nike had a net margin of 11.13% and a return on equity of 31.64%. Nike’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.50 earnings per share. sell-side analysts forecast that Nike Inc will post 2.26 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 5th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, March 2nd. This represents a $0.80 annualized dividend and a yield of 1.21%. Nike’s dividend payout ratio is 34.63%.
Several equities analysts have commented on the stock. JPMorgan Chase & Co. set a $58.00 price objective on shares of Nike and gave the company a “neutral” rating in a report on Monday, March 5th. Zacks Investment Research downgraded shares of Nike from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. Stifel Nicolaus upped their price objective on shares of Nike from $74.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 16th. Buckingham Research upped their price objective on shares of Nike from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Finally, UBS Group set a $76.00 price objective on shares of Nike and gave the company a “buy” rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Nike has a consensus rating of “Hold” and an average target price of $65.61.
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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