RAM Investment Partners LLC Cuts Position in NIKE, Inc. $NKE

RAM Investment Partners LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 33.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,834 shares of the footwear maker’s stock after selling 5,979 shares during the period. RAM Investment Partners LLC’s holdings in NIKE were worth $841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Goldman Sachs Group Inc. raised its stake in NIKE by 344.2% during the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock valued at $1,694,842,000 after purchasing an additional 20,688,013 shares in the last quarter. Wellington Management Group LLP raised its position in shares of NIKE by 24.9% during the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after buying an additional 9,043,180 shares in the last quarter. Jennison Associates LLC purchased a new position in NIKE in the first quarter worth about $509,051,000. Nuveen LLC purchased a new stake in NIKE during the first quarter valued at approximately $502,285,000. Finally, Vanguard Group Inc. grew its position in NIKE by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock valued at $7,182,831,000 after acquiring an additional 4,957,494 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Stock Performance

Shares of NIKE stock opened at $66.08 on Friday. The company has a market capitalization of $97.68 billion, a PE ratio of 33.89, a P/E/G ratio of 2.41 and a beta of 1.29. The company has a 50-day simple moving average of $68.69 and a two-hundred day simple moving average of $68.61. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The company had revenue of $11.72 billion during the quarter, compared to the consensus estimate of $10.96 billion. During the same period last year, the firm earned $0.70 earnings per share. NIKE’s revenue was up 1.0% compared to the same quarter last year. Research analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

Insider Activity

In other news, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at approximately $2,095,052.92. This represents a 12.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 16,150 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $62.09 per share, for a total transaction of $1,002,753.50. Following the acquisition, the director owned 21,388 shares in the company, valued at $1,327,980.92. This trade represents a 308.32% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NKE. UBS Group set a $71.00 price target on NIKE and gave the company a “neutral” rating in a report on Friday, September 19th. Needham & Company LLC reiterated a “buy” rating and issued a $78.00 target price on shares of NIKE in a report on Wednesday, October 1st. Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Citigroup upgraded NIKE from a “neutral” rating to a “positive” rating in a report on Friday, September 19th. Finally, KeyCorp set a $90.00 price objective on shares of NIKE and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.72.

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.