NIKE, Inc. (NYSE:NKE) Stake Cut by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC lessened its position in NIKE, Inc. (NYSE:NKE - Free Report) by 27.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,677 shares of the footwear maker's stock after selling 23,356 shares during the quarter. NIKE makes up 1.1% of Bedell Frazier Investment Counselling LLC's investment portfolio, 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 quarter.

Other hedge funds have also recently bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in shares of NIKE in the fourth quarter valued at approximately $28,000. Caitlin John LLC raised its position 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 purchasing an additional 200 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of NIKE in the 4th quarter valued at about $30,000. LFA Lugano Financial Advisors SA increased its stake in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after buying an additional 210 shares during the period. Finally, Hopwood Financial Services Inc. acquired a new stake in NIKE in the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Stock Performance

Shares of NYSE:NKE traded down $6.97 during trading on Thursday, hitting $57.99. 42,733,755 shares of the company traded hands, compared to its average volume of 13,084,392. The stock has a market capitalization of $85.77 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 2.52 and a beta of 1.02. NIKE, Inc. has a one year low of $55.26 and a one year high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The business's fifty day moving average is $73.66 and its 200-day moving average is $76.64.

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NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $11.02 billion. During the same period last year, the company earned $0.98 earnings per share. The firm's revenue for the quarter was down 9.1% on a year-over-year basis. As a group, equities analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.76%. NIKE's dividend payout ratio is presently 53.16%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NKE shares. Barclays cut their price objective on shares of NIKE from $79.00 to $70.00 and set an "equal weight" rating on the stock in a report on Friday, December 20th. Dbs Bank upgraded NIKE from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of NIKE from $92.00 to $82.00 and set a "buy" rating for the company in a research report on Monday, December 16th. DA Davidson raised NIKE to a "strong-buy" rating in a research note on Monday, December 23rd. Finally, Robert W. Baird decreased their price target on NIKE from $105.00 to $99.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Fifteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $87.38.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The stock was 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 in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by corporate insiders.

About NIKE

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.