Frank Rimerman Advisors LLC Buys 14,925 Shares of NIKE, Inc. (NYSE:NKE)

Frank Rimerman Advisors LLC raised its stake in shares of NIKE, Inc. (NYSE:NKE) by 4,942.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,227 shares of the footwear maker’s stock after buying an additional 14,925 shares during the period. Frank Rimerman Advisors LLC’s holdings in NIKE were worth $1,148,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Beta Wealth Group Inc. raised its holdings in NIKE by 2.3% during the fourth quarter. Beta Wealth Group Inc. now owns 4,501 shares of the footwear maker’s stock valued at $489,000 after buying an additional 101 shares in the last quarter. Kampmann Melissa S. raised its holdings in NIKE by 0.8% during the fourth quarter. Kampmann Melissa S. now owns 15,050 shares of the footwear maker’s stock valued at $1,634,000 after buying an additional 115 shares in the last quarter. Ascent Wealth Partners LLC raised its holdings in NIKE by 0.4% during the first quarter. Ascent Wealth Partners LLC now owns 28,513 shares of the footwear maker’s stock valued at $2,680,000 after buying an additional 115 shares in the last quarter. Condor Capital Management increased its stake in shares of NIKE by 0.4% in the first quarter. Condor Capital Management now owns 26,079 shares of the footwear maker’s stock worth $2,451,000 after purchasing an additional 116 shares during the period. Finally, Bell Investment Advisors Inc boosted its stake in NIKE by 4.7% during the 4th quarter. Bell Investment Advisors Inc now owns 2,610 shares of the footwear maker’s stock valued at $283,000 after purchasing an additional 118 shares during the period. 64.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $79.00 price target on shares of NIKE in a research report on Friday. Wells Fargo & Company upped their target price on shares of NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday. Stifel Nicolaus decreased their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and upped their price objective for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, Guggenheim decreased their target price on NIKE from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.15.

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the completion of the acquisition, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

NIKE Stock Performance

NIKE stock opened at $86.52 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock has a fifty day moving average price of $78.11 and a two-hundred day moving average price of $86.99. NIKE, Inc. has a 52-week low of $70.75 and a 52-week high of $123.39. The firm has a market capitalization of $130.59 billion, a P/E ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share. As a group, analysts anticipate that NIKE, Inc. will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s payout ratio is presently 39.68%.

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.