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

Bedell Frazier Investment Counselling LLC cut its stake in shares of NIKE, Inc. (NYSE:NKE) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,677 shares of the footwear maker’s stock after selling 23,356 shares during the period. NIKE comprises approximately 1.1% of Bedell Frazier Investment Counselling LLC’s investment portfolio, making the stock its 28th biggest position. Bedell Frazier Investment Counselling LLC’s holdings in NIKE were worth $4,591,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in NIKE in the fourth quarter valued at about $1,126,288,000. Wellington Management Group LLP raised its holdings in NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock valued at $2,749,903,000 after buying an additional 8,898,591 shares during the last quarter. Pacer Advisors Inc. boosted its position in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker’s stock worth $516,166,000 after buying an additional 6,709,985 shares during the period. Bank of New York Mellon Corp grew its holdings in NIKE by 18.1% during the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after acquiring an additional 3,121,929 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in NIKE by 358.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker’s stock worth $228,165,000 after acquiring an additional 2,357,745 shares during the last quarter. 64.25% of the stock is currently owned by institutional investors.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.10% of the company’s stock.

NIKE Trading Down 3.8 %

NKE opened at $63.32 on Monday. The firm has a market capitalization of $93.65 billion, a PE ratio of 19.54, a P/E/G ratio of 2.52 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a fifty-two week low of $62.76 and a fifty-two week high of $98.04. The company’s 50-day moving average is $74.16 and its 200 day moving average is $76.92.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $11.02 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, March 3rd. NIKE’s dividend payout ratio is 53.16%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NKE shares. BMO Capital Markets cut their price target on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Evercore ISI reduced their price target on NIKE from $105.00 to $97.00 and set an “outperform” rating on the stock in a research report on Monday, December 16th. UBS Group lowered their price objective on NIKE from $73.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Morgan Stanley reduced their target price on NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Finally, Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $102.00 to $72.00 in a report on Friday, February 7th. Fifteen 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.