Hilton Capital Management LLC Trims Stock Position in NIKE, Inc. (NYSE:NKE)

Hilton Capital Management LLC lessened its holdings in NIKE, Inc. (NYSE:NKEGet Rating) by 63.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,215 shares of the footwear maker’s stock after selling 2,080 shares during the period. Hilton Capital Management LLC’s holdings in NIKE were worth $203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. EPG Wealth Management LLC lifted its holdings in shares of NIKE by 3.8% in the third quarter. EPG Wealth Management LLC now owns 1,666 shares of the footwear maker’s stock valued at $242,000 after purchasing an additional 61 shares in the last quarter. Mcdonald Partners LLC lifted its stake in shares of NIKE by 0.7% during the third quarter. Mcdonald Partners LLC now owns 8,625 shares of the footwear maker’s stock valued at $1,253,000 after buying an additional 61 shares during the period. Gilman Hill Asset Management LLC lifted its stake in shares of NIKE by 1.5% during the fourth quarter. Gilman Hill Asset Management LLC now owns 4,693 shares of the footwear maker’s stock valued at $782,000 after buying an additional 70 shares during the period. Buffington Mohr McNeal raised its stake in NIKE by 0.7% during the fourth quarter. Buffington Mohr McNeal now owns 9,517 shares of the footwear maker’s stock worth $1,586,000 after purchasing an additional 70 shares during the period. Finally, Resources Management Corp CT ADV raised its stake in NIKE by 0.5% during the fourth quarter. Resources Management Corp CT ADV now owns 15,025 shares of the footwear maker’s stock worth $2,504,000 after purchasing an additional 71 shares during the period. 65.35% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on NKE. Deutsche Bank Aktiengesellschaft increased their price target on shares of NIKE from $173.00 to $175.00 in a research note on Tuesday, March 22nd. Wedbush dropped their price objective on shares of NIKE from $163.00 to $139.00 in a research report on Friday, May 13th. The Goldman Sachs Group set a $177.00 price objective on shares of NIKE in a research report on Tuesday, March 22nd. KGI Securities lowered shares of NIKE from an “outperform” rating to a “neutral” rating in a research report on Monday. Finally, Cowen dropped their price objective on shares of NIKE from $192.00 to $144.00 and set an “outperform” rating for the company in a research report on Tuesday, March 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $171.52.

NYSE:NKE traded down $0.74 during mid-day trading on Wednesday, hitting $106.55. The stock had a trading volume of 118,233 shares, compared to its average volume of 7,134,649. The stock has a market capitalization of $167.68 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 2.05 and a beta of 0.95. The company has a 50 day simple moving average of $124.92 and a 200-day simple moving average of $143.50. NIKE, Inc. has a 52 week low of $104.73 and a 52 week high of $179.10. The company has a current ratio of 3.06, a quick ratio of 2.18 and a debt-to-equity ratio of 0.64.

NIKE (NYSE:NKEGet Rating) last issued its quarterly earnings data on Monday, March 21st. The footwear maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.14. The firm had revenue of $10.90 billion for the quarter, compared to the consensus estimate of $10.61 billion. NIKE had a net margin of 13.06% and a return on equity of 43.04%. NIKE’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.90 EPS. As a group, equities research analysts anticipate that NIKE, Inc. will post 3.71 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Monday, June 6th will be given a $0.305 dividend. The ex-dividend date is Friday, June 3rd. This represents a $1.22 annualized dividend and a yield of 1.15%. NIKE’s dividend payout ratio is presently 32.19%.

NIKE Profile (Get Rating)

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team, and league logos, as well as sells sports apparel.

Further Reading

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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