RAM Investment Partners LLC Sells 5,979 Shares of NIKE, Inc. $NKE

RAM Investment Partners LLC trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 33.6% in the 2nd quarter, according to the company in its most recent 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 quarter. 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).

Other hedge funds have also bought and sold shares of the company. Mascoma Wealth Management LLC bought a new position in shares of NIKE during the second quarter valued at approximately $26,000. Stone House Investment Management LLC bought a new stake in shares of NIKE in the 1st quarter worth approximately $25,000. Halbert Hargrove Global Advisors LLC grew its stake in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after buying an additional 362 shares during the last quarter. Matrix Trust Co grew its stake in shares of NIKE by 53.1% in the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 153 shares during the last quarter. Finally, Saudi Central Bank bought a new position in NIKE in the 1st quarter worth about $30,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 2.9%

NIKE stock opened at $66.08 on Friday. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The stock has a fifty day moving average of $68.69 and a 200 day moving average of $68.61. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.45 and a current ratio of 2.19. The stock has a market cap of $97.68 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 2.41 and a beta of 1.29.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.96 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The firm’s revenue was up 1.0% compared to the same quarter last year. As a group, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup upgraded shares of NIKE from a “neutral” rating to a “positive” rating in a research note on Friday, September 19th. Telsey Advisory Group reiterated a “market perform” rating and set a $75.00 price target on shares of NIKE in a report on Wednesday, October 1st. JPMorgan Chase & Co. raised their price target on shares of NIKE from $93.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the company a “hold” rating in a research report on Wednesday, October 1st. Finally, Wall Street Zen upgraded NIKE from a “sell” rating to a “hold” rating in a research note on Saturday, September 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $82.72.

Insider Buying and Selling

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

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.