Oppenheimer & Co. Inc. Acquires 8,022 Shares of Nike Inc (NKE)

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Oppenheimer & Co. Inc. increased its holdings in Nike Inc (NYSE:NKE) by 16.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 55,940 shares of the footwear maker’s stock after purchasing an additional 8,022 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Nike were worth $4,710,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its holdings in Nike by 42.4% in the 4th quarter. Thrivent Financial for Lutherans now owns 2,133,675 shares of the footwear maker’s stock valued at $158,219,000 after purchasing an additional 635,410 shares in the last quarter. Hollencrest Capital Management purchased a new position in Nike in the 1st quarter valued at about $202,000. WealthTrust Fairport LLC lifted its holdings in Nike by 2.7% in the 4th quarter. WealthTrust Fairport LLC now owns 60,157 shares of the footwear maker’s stock valued at $4,460,000 after purchasing an additional 1,604 shares in the last quarter. Tiemann Investment Advisors LLC lifted its holdings in Nike by 2.4% in the 4th quarter. Tiemann Investment Advisors LLC now owns 5,420 shares of the footwear maker’s stock valued at $402,000 after purchasing an additional 125 shares in the last quarter. Finally, Brinker Capital Inc. lifted its holdings in Nike by 4.1% in the 4th quarter. Brinker Capital Inc. now owns 85,941 shares of the footwear maker’s stock valued at $6,375,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 65.75% of the company’s stock.

NKE has been the topic of a number of recent research reports. Needham & Company LLC upped their target price on shares of Nike to $92.00 and gave the company a “buy” rating in a report on Monday, March 18th. HSBC upgraded shares of Nike from a “hold” rating to a “buy” rating and upped their target price for the company from $92.00 to $95.00 in a report on Tuesday, January 8th. Canaccord Genuity set a $96.00 target price on shares of Nike and gave the company a “buy” rating in a report on Monday, March 18th. Credit Suisse Group restated a “buy” rating and issued a $97.00 target price on shares of Nike in a report on Friday, March 22nd. Finally, Nomura increased their price objective on shares of Nike from $85.00 to $91.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $87.10.

In related news, insider Eric D. Sprunk sold 40,004 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $87.82, for a total transaction of $3,513,151.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Slusher sold 110,000 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $85.02, for a total transaction of $9,352,200.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 316,504 shares of company stock valued at $26,620,816. Corporate insiders own 3.90% of the company’s stock.

NKE opened at $85.27 on Friday. The company has a market cap of $138.05 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 2.64 and a beta of 0.67. Nike Inc has a 1 year low of $66.53 and a 1 year high of $90.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.17 and a quick ratio of 1.43.

Nike (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.03. The firm had revenue of $9.61 billion during the quarter, compared to the consensus estimate of $9.60 billion. Nike had a net margin of 10.79% and a return on equity of 45.78%. The company’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.68 EPS. On average, analysts expect that Nike Inc will post 2.55 earnings per share for the current year.

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Nike Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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