Oppenheimer & Co. Inc. lowered its position in Nike, Inc. (NYSE:NKE) by 62.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,756 shares of the footwear maker’s stock after selling 67,017 shares during the period. Oppenheimer & Co. Inc.’s holdings in Nike were worth $2,272,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Accredited Investors Inc. boosted its position in Nike by 0.5% in the first quarter. Accredited Investors Inc. now owns 4,167 shares of the footwear maker’s stock worth $232,000 after buying an additional 19 shares during the period. Montecito Bank & Trust boosted its position in Nike by 0.3% in the first quarter. Montecito Bank & Trust now owns 7,200 shares of the footwear maker’s stock worth $402,000 after buying an additional 24 shares during the period. Intrust Bank NA boosted its position in Nike by 0.9% in the first quarter. Intrust Bank NA now owns 5,082 shares of the footwear maker’s stock worth $283,000 after buying an additional 46 shares during the period. Welch & Forbes LLC boosted its position in Nike by 0.5% in the first quarter. Welch & Forbes LLC now owns 9,998 shares of the footwear maker’s stock worth $557,000 after buying an additional 48 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Nike by 0.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 9,749 shares of the footwear maker’s stock worth $543,000 after buying an additional 50 shares during the period. 64.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Nike, Inc. (NYSE NKE) traded down 0.17% during midday trading on Friday, hitting $58.97. The stock had a trading volume of 4,979,994 shares. Nike, Inc. has a 12 month low of $49.01 and a 12 month high of $60.53. The stock’s 50-day moving average is $57.96 and its 200-day moving average is $55.61. The stock has a market cap of $96.90 billion, a PE ratio of 23.49 and a beta of 0.59.

Nike (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.63 billion. During the same quarter in the previous year, the business earned $0.49 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Equities analysts anticipate that Nike, Inc. will post $2.42 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Thursday, August 31st. Nike’s dividend payout ratio is currently 28.69%.

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A number of research firms have commented on NKE. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 price objective on shares of Nike in a research report on Friday, May 5th. Morgan Stanley reissued an “equal weight” rating and issued a $56.00 target price on shares of Nike in a research report on Wednesday, June 21st. Credit Suisse Group set a $63.00 target price on shares of Nike and gave the company a “buy” rating in a research report on Saturday, June 24th. UBS AG reissued a “buy” rating and issued a $62.00 target price (down previously from $63.00) on shares of Nike in a research report on Tuesday, June 27th. Finally, Nomura reissued a “buy” rating and issued a $60.00 target price on shares of Nike in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.04.

In other news, insider Eric D. Sprunk sold 112,323 shares of the business’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $58.61, for a total value of $6,583,251.03. Following the completion of the transaction, the insider now owns 139,551 shares in the company, valued at $8,179,084.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Andrew Campion sold 5,722 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $59.40, for a total value of $339,886.80. Following the completion of the transaction, the chief financial officer now owns 34,976 shares of the company’s stock, valued at approximately $2,077,574.40. The disclosure for this sale can be found here. Insiders sold 492,360 shares of company stock valued at $28,485,174 in the last 90 days. Company insiders own 3.90% of the company’s stock.

About Nike

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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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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