Frank Rimerman Advisors LLC Purchases 3,122 Shares of NIKE, Inc. (NYSE:NKE)

Frank Rimerman Advisors LLC lifted its stake in NIKE, Inc. (NYSE:NKE) by 20.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,349 shares of the footwear maker’s stock after acquiring an additional 3,122 shares during the period. Frank Rimerman Advisors LLC’s holdings in NIKE were worth $1,622,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in NKE. Ascent Wealth Partners LLC increased its holdings in shares of NIKE by 0.4% in the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock worth $2,680,000 after buying an additional 115 shares during the period. Condor Capital Management raised its holdings in NIKE by 0.4% in the 1st quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after acquiring an additional 116 shares during the last quarter. Lodestone Wealth Management LLC raised its stake in NIKE by 5.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 2,248 shares of the footwear maker’s stock valued at $211,000 after buying an additional 118 shares during the last quarter. Nvwm LLC raised its stake in NIKE by 1.0% during the 1st quarter. Nvwm LLC now owns 11,568 shares of the footwear maker’s stock valued at $1,091,000 after buying an additional 120 shares during the last quarter. Finally, Garrison Point Advisors LLC increased its stake in shares of NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.2 %

Shares of NYSE:NKE opened at $78.85 on Friday. The company has a market cap of $118.22 billion, a price-to-earnings ratio of 22.59, a PEG ratio of 1.95 and a beta of 1.02. The firm’s 50-day simple moving average is $82.71 and its 200-day simple moving average is $84.94. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a fifty-two week low of $70.75 and a fifty-two week high of $123.39.

NIKE (NYSE:NKE) last issued its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.78 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 42.41%.

Insider Activity

In other news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares of the company’s stock, valued at $80,435,628. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NKE. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and increased their price objective for the company from $67.00 to $93.00 in a report on Friday, August 16th. Daiwa America downgraded shares of NIKE from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Morgan Stanley boosted their price objective on shares of NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Telsey Advisory Group cut their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Finally, Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, October 2nd. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

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.