Xponance Inc. Raises Stock Position in NIKE, Inc. (NYSE:NKE)

Xponance Inc. lifted its holdings in NIKE, Inc. (NYSE:NKE) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,809 shares of the footwear maker’s stock after buying an additional 2,765 shares during the quarter. Xponance Inc.’s holdings in NIKE were worth $24,408,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Financial Freedom LLC purchased a new stake in shares of NIKE in the 4th quarter worth about $29,000. Iron Horse Wealth Management LLC grew its position in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares during the period. Impact Partnership Wealth LLC grew its position in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after buying an additional 181 shares during the period. Planned Solutions Inc. purchased a new stake in shares of NIKE in the 4th quarter worth about $29,000. Finally, Worth Asset Management LLC purchased a new stake in shares of NIKE in the 1st quarter worth about $32,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. UBS Group cut their price objective on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Wedbush reissued an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research report on Wednesday, March 27th. Jefferies Financial Group cut their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Friday, March 22nd. Sanford C. Bernstein cut their price objective on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Wells Fargo & Company dropped their price target on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

Shares of NIKE stock traded up $0.90 on Thursday, hitting $95.74. 9,619,736 shares of the company traded hands, compared to its average volume of 9,551,882. The stock has a market capitalization of $144.51 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 1.80 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The business has a 50-day simple moving average of $98.47 and a 200 day simple moving average of $103.42.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is presently 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.