Frank Rimerman Advisors LLC Has $647,000 Stake in NIKE, Inc. (NYSE:NKE)

Frank Rimerman Advisors LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 53.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,549 shares of the footwear maker’s stock after selling 9,800 shares during the period. Frank Rimerman Advisors LLC’s holdings in NIKE were worth $647,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Heck Capital Advisors LLC bought a new stake in shares of NIKE in the fourth quarter valued at approximately $28,000. Caitlin John LLC raised its holdings in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. Teachers Insurance & Annuity Association of America bought a new stake in shares of NIKE during the 3rd quarter valued at $30,000. Roxbury Financial LLC acquired a new stake in shares of NIKE during the 4th quarter worth $30,000. Finally, LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after purchasing an additional 210 shares during the period. 64.25% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NKE has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a research report on Monday, December 2nd. Citigroup cut shares of NIKE from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Robert W. Baird cut their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research report on Monday, December 23rd. BMO Capital Markets upped their price objective on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research report on Monday, February 3rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $80.00 price objective on shares of NIKE in a research report on Wednesday, February 19th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $89.69.

Insider Buying and Selling at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $71.72 on Monday. The business has a 50 day moving average of $74.68 and a 200-day moving average of $77.77. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $101.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The company has a market capitalization of $106.08 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.03 EPS. On average, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is presently 49.38%.

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.