NIKE Inc. (NKE): Are Hedge Funds Right About This Stock?

Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as NIKE Inc. (NYSE:NKE) but similarly valued. We will take a look at Verizon Communications Inc. (NYSE:VZ), The Coca-Cola Company (NYSE:KO), Bank of America Corp (NYSE:BAC), and The Walt Disney Company (NYSE:DIS). This group of stocks’ market valuations resemble NKE’s market valuation.

As you can see these stocks had an average of 67 hedge funds with bullish positions and the average amount invested in these stocks was $8.32 billion. That figure was $4.48 billion in NKE’s case. Bank of America Corp (NYSE:BAC) is the most popular stock in this table. On the other hand The Coca-Cola Company (NYSE:KO) is the least popular one with only 51 bullish hedge fund positions. NIKE Inc. (NYSE:NKE) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard BAC might be a better candidate to consider a long position.

Disclosure: None