Obermeyer Wealth Partners Buys New Position in NIKE, Inc. $NKE

Obermeyer Wealth Partners bought a new stake in NIKE, Inc. (NYSE:NKE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,881 shares of the footwear maker’s stock, valued at approximately $205,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Banco Santander S.A. grew its position in NIKE by 28.3% in the second quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock valued at $15,708,000 after acquiring an additional 48,764 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in NIKE by 0.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after acquiring an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in NIKE in the first quarter valued at approximately $25,963,000. BROOKFIELD Corp ON grew its position in NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock valued at $41,808,000 after acquiring an additional 175,000 shares in the last quarter. Finally, Cadence Bank grew its position in NIKE by 10.0% in the first quarter. Cadence Bank now owns 83,002 shares of the footwear maker’s stock valued at $5,269,000 after acquiring an additional 7,574 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NKE shares. Barclays set a $70.00 price objective on shares of NIKE and gave the company a “positive” rating in a research report on Wednesday, October 1st. Piper Sandler set a $84.00 target price on NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. TD Cowen upgraded NIKE from a “hold” rating to a “buy” rating and increased their target price for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Finally, Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Stock Performance

Shares of NKE opened at $62.77 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45. The stock has a market capitalization of $92.79 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $82.44. The business’s fifty day moving average price is $70.97 and its 200 day moving average price is $68.46.

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

NIKE Announces Dividend

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

Insiders Place Their Bets

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the completion of the sale, the chairman owned 744,988 shares in the company, valued at $56,566,938.84. The trade was a 10.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

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.