Bedell Frazier Investment Counselling LLC Has $4.59 Million Holdings in NIKE, Inc. (NYSE:NKE)

Bedell Frazier Investment Counselling LLC decreased its position in NIKE, Inc. (NYSE:NKE) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,677 shares of the footwear maker’s stock after selling 23,356 shares during the quarter. NIKE accounts for approximately 1.1% of Bedell Frazier Investment Counselling LLC’s holdings, making the stock its 28th largest holding. Bedell Frazier Investment Counselling LLC’s holdings in NIKE were worth $4,591,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Heck Capital Advisors LLC bought a new stake in NIKE in the 4th quarter valued at approximately $28,000. Caitlin John LLC lifted its position in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Roxbury Financial LLC acquired a new position in NIKE during the fourth quarter worth $30,000. LFA Lugano Financial Advisors SA grew its position in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in NIKE in the 4th quarter valued at $30,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Stock Down 3.8 %

NYSE NKE opened at $63.32 on Monday. The company has a market cap of $93.65 billion, a price-to-earnings ratio of 19.54, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a 1-year low of $62.76 and a 1-year high of $98.04. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $74.16 and a 200-day moving average of $76.92.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the previous year, the firm earned $0.98 EPS. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s dividend payout ratio is currently 53.16%.

Insider Activity

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company’s stock, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NKE shares. UBS Group lowered their target price on NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Dbs Bank raised NIKE from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 5th. Robert W. Baird dropped their price objective on NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a research note on Friday, March 21st. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Finally, Barclays dropped their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. Fifteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.38.

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.