Tang Capital Management LLC Boosts Stake in NIKE, Inc. (NYSE:NKE)

Tang Capital Management LLC boosted its position in NIKE, Inc. (NYSE:NKE - Free Report) by 65.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,789 shares of the footwear maker's stock after buying an additional 6,250 shares during the period. Tang Capital Management LLC's holdings in NIKE were worth $1,195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth about $28,000. Caitlin John LLC boosted its position in shares of NIKE by 117.0% during the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Roxbury Financial LLC bought a new stake in shares of NIKE during the fourth quarter worth about $30,000. LFA Lugano Financial Advisors SA increased its position in shares of NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in shares of NIKE during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Price Performance

NYSE:NKE traded up $0.41 during trading hours on Tuesday, hitting $62.49. The stock had a trading volume of 10,764,253 shares, compared to its average volume of 14,839,147. The company has a 50 day simple moving average of $60.63 and a two-hundred day simple moving average of $70.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The firm has a market capitalization of $92.43 billion, a price-to-earnings ratio of 19.29, a P/E/G ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the firm earned $0.98 EPS. The business's quarterly revenue was down 9.1% compared to the same quarter last year. Research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.56%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BMO Capital Markets decreased their target price on shares of NIKE from $95.00 to $92.00 and set an "outperform" rating for the company in a research report on Friday, March 21st. Stifel Nicolaus decreased their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a research note on Friday, March 21st. Williams Trading decreased their price objective on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, Needham & Company LLC decreased their price objective on shares of NIKE from $84.00 to $80.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Seventeen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average price target of $80.26.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.10% of the company's stock.

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.