Monument Capital Management Makes New Investment in NIKE, Inc. (NYSE:NKE)

Monument Capital Management purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,033 shares of the footwear maker’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of NKE. Newport Trust Company LLC purchased a new stake in shares of NIKE during the third quarter worth approximately $679,775,000. Flossbach Von Storch AG increased its stake in shares of NIKE by 433.5% during the third quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after buying an additional 3,354,677 shares during the period. Van ECK Associates Corp increased its stake in shares of NIKE by 117.0% during the third quarter. Van ECK Associates Corp now owns 2,986,441 shares of the footwear maker’s stock worth $285,564,000 after buying an additional 1,610,273 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of NIKE by 37.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,791,531 shares of the footwear maker’s stock worth $553,786,000 after buying an additional 1,583,541 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of NIKE during the third quarter worth approximately $97,724,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NYSE NKE opened at $94.20 on Tuesday. The stock has a fifty day moving average price of $97.85 and a 200 day moving average price of $103.46. The company has a market cap of $142.18 billion, a PE ratio of 27.71, a P/E/G ratio of 1.82 and a beta of 1.09. 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, Inc. has a 1-year low of $88.66 and a 1-year high of $128.68.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating 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 company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. Sell-side analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $115.00 target price on shares of NIKE in a research note on Wednesday, March 27th. HSBC lowered their price target on NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a report on Monday, January 22nd. Telsey Advisory Group lowered their price target on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, March 18th. TheStreet downgraded NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Finally, The Goldman Sachs Group lowered their price target on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $116.26.

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.