Obermeyer Wealth Partners Takes Position in NIKE, Inc. $NKE

Obermeyer Wealth Partners purchased a new stake in shares of NIKE, Inc. (NYSE:NKE) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 2,881 shares of the footwear maker’s stock, valued at approximately $205,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of NIKE by 4.6% during the first quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. Wellington Management Group LLP grew its holdings in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock worth $2,880,971,000 after acquiring an additional 9,043,180 shares during the period. Goldman Sachs Group Inc. grew its holdings in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the period. Flossbach Von Storch SE grew its holdings in NIKE by 24.0% during the first quarter. Flossbach Von Storch SE now owns 10,286,619 shares of the footwear maker’s stock worth $652,995,000 after acquiring an additional 1,988,547 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in NIKE by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,507,250 shares of the footwear maker’s stock worth $603,445,000 after acquiring an additional 301,497 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total transaction of $306,461.00. Following the completion of the sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. This trade represents a 12.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman owned 744,988 shares of the company’s stock, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a report on Saturday, September 6th. JPMorgan Chase & Co. lifted their target price on NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $75.00 target price on shares of NIKE in a report on Wednesday, October 1st. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Finally, Sanford C. Bernstein reaffirmed a “buy” rating and set a $90.00 target price on shares of NIKE in a report on Monday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Trading Down 2.8%

NYSE:NKE opened at $62.77 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 2.19 and a debt-to-equity ratio of 0.59. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $82.44. The firm has a market capitalization of $92.79 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. The stock has a fifty day simple moving average of $70.97 and a 200 day simple moving average of $68.46.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same quarter last year, the company posted $0.70 EPS. NIKE’s revenue for the quarter was up 1.0% on a year-over-year basis. Sell-side analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.5%. NIKE’s dividend payout ratio (DPR) is presently 82.05%.

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.