NIKE, Inc. (NYSE:NKE) Stock Position Lifted by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC boosted its stake in shares of NIKE, Inc. (NYSE:NKE) by 5.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,155 shares of the footwear maker’s stock after purchasing an additional 113 shares during the period. Hexagon Capital Partners LLC’s holdings in NIKE were worth $234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NKE. Newport Trust Company LLC acquired a new stake in shares of NIKE in the third quarter worth $679,775,000. Flossbach Von Storch AG grew its holdings in shares of NIKE by 433.5% in the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after purchasing an additional 3,354,677 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of NIKE by 117.0% in the 3rd quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock valued at $285,564,000 after purchasing an additional 1,610,273 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of NIKE by 37.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock valued at $553,786,000 after purchasing an additional 1,583,541 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of NIKE in the 3rd quarter valued at about $97,724,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $100.00 target price (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Evercore ISI dropped their target price on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Citigroup dropped their target price on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Finally, Morgan Stanley dropped their target price on shares of NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Down 2.0 %

Shares of NYSE:NKE traded down $1.89 during trading on Wednesday, hitting $90.37. The company had a trading volume of 2,264,132 shares, compared to its average volume of 9,253,732. The stock has a market cap of $136.40 billion, a price-to-earnings ratio of 27.14, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.38. The company has a fifty day simple moving average of $96.55 and a two-hundred day simple moving average of $103.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. As a group, equities analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

About NIKE

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.