NIKE, Inc. (NYSE:NKE) Shares Sold by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC reduced its holdings in shares of NIKE, Inc. (NYSE:NKE) by 5.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 84,033 shares of the footwear maker’s stock after selling 5,138 shares during the period. NIKE accounts for approximately 1.8% of Bedell Frazier Investment Counselling LLC’s investment portfolio, making the stock its 18th biggest holding. Bedell Frazier Investment Counselling LLC’s holdings in NIKE were worth $7,429,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Garrison Point Advisors LLC grew its position in NIKE by 1.9% during 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 during the last quarter. Stephens Consulting LLC grew its position in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC grew its position in NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock worth $55,000 after purchasing an additional 130 shares during the last quarter. Chapin Davis Inc. grew its position in NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock worth $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its position in NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after purchasing an additional 133 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

NYSE:NKE opened at $77.40 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The firm has a market cap of $116.05 billion, a PE ratio of 22.18, a P/E/G ratio of 1.88 and a beta of 1.03. The firm has a 50 day simple moving average of $80.51 and a 200-day simple moving average of $82.52. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) 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 company’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 earnings per share. On average, equities analysts expect that NIKE, Inc. will post 2.75 EPS for the current year.

NIKE Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. NIKE’s dividend payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and raised their price objective for the stock from $83.00 to $97.00 in a research report on Thursday, October 10th. Evercore ISI lowered their target price 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. Deutsche Bank Aktiengesellschaft lowered their target price on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Morgan Stanley lifted their target price on shares of NIKE from $79.00 to $82.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Guggenheim lowered their target price on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $95.86.

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.