Obermeyer Wood Investment Counsel Lllp lowered its stake in shares of NIKE, Inc. (NYSE:NKE) by 47.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,498 shares of the footwear maker’s stock after selling 193,269 shares during the quarter. NIKE comprises approximately 2.0% of Obermeyer Wood Investment Counsel Lllp’s holdings, making the stock its 26th largest holding. Obermeyer Wood Investment Counsel Lllp’s holdings in NIKE were worth $26,551,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NKE. Sound Income Strategies LLC boosted its stake in shares of NIKE by 163.8% in the 3rd quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 154 shares in the last quarter. Newfound Research LLC acquired a new position in NIKE during the 3rd quarter valued at about $32,000. Demars Financial Group LLC acquired a new position in NIKE during the 2nd quarter valued at about $42,000. U S Global Investors Inc. acquired a new position in NIKE during the 2nd quarter valued at about $53,000. Finally, Campbell Wealth Management acquired a new position in NIKE during the 2nd quarter valued at about $64,000. 64.20% of the stock is currently owned by institutional investors and hedge funds.

In other NIKE news, insider Heidi O’neill sold 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $105.00, for a total transaction of $1,050,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew Campion sold 5,043 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $97.12, for a total value of $489,776.16. The disclosure for this sale can be found here. Insiders have sold a total of 785,649 shares of company stock valued at $97,741,803 in the last ninety days. Insiders own 3.80% of the company’s stock.

NKE has been the topic of a number of research reports. Guggenheim upped their target price on shares of NIKE from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Wedbush upped their price target on NIKE from $127.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, September 23rd. Citigroup upped their price target on NIKE from $115.00 to $137.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Piper Sandler upped their price target on NIKE from $148.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, October 15th. Finally, Jefferies Financial Group reissued a “neutral” rating and set a $117.00 target price on shares of NIKE in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $137.03.

Shares of NYSE NKE traded down $0.03 during trading hours on Friday, hitting $129.99. The company had a trading volume of 4,046,580 shares, compared to its average volume of 7,755,500. The stock has a market capitalization of $204.06 billion, a P/E ratio of 77.84, a price-to-earnings-growth ratio of 2.70 and a beta of 0.80. The company has a quick ratio of 1.77, a current ratio of 2.55 and a debt-to-equity ratio of 1.02. NIKE, Inc. has a 1-year low of $60.00 and a 1-year high of $131.38. The firm’s 50 day moving average is $122.69 and its 200-day moving average is $103.05.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, September 22nd. The footwear maker reported $0.95 EPS for the quarter, beating the consensus estimate of $0.46 by $0.49. The company had revenue of $10.59 billion during the quarter, compared to the consensus estimate of $9.15 billion. NIKE had a return on equity of 34.62% and a net margin of 7.20%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, sell-side analysts predict that NIKE, Inc. will post 2.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, August 31st were issued a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, August 28th. NIKE’s dividend payout ratio is 52.97%.

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, including 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, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other 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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