Sagespring Wealth Partners LLC Boosts Position in NIKE, Inc. (NYSE:NKE)

Sagespring Wealth Partners LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 113.0% in the first quarter, HoldingsChannel.com reports. The fund owned 10,074 shares of the footwear maker’s stock after acquiring an additional 5,345 shares during the period. Sagespring Wealth Partners LLC’s holdings in NIKE were worth $639,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NKE. Heck Capital Advisors LLC purchased a new position in shares of NIKE during the fourth quarter valued at about $28,000. LFA Lugano Financial Advisors SA boosted its position in NIKE by 110.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. bought a new stake in NIKE during the 4th quarter valued at approximately $30,000. EnRich Financial Partners LLC grew its holdings in shares of NIKE by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 273 shares during the period. Finally, BankPlus Trust Department bought a new position in shares of NIKE in the 4th quarter worth approximately $34,000. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the completion of the acquisition, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

NIKE Price Performance

NYSE NKE opened at $60.02 on Wednesday. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The stock has a 50-day moving average of $59.57 and a 200 day moving average of $68.42. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19. The company has a market capitalization of $88.77 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 2.14 and a beta of 1.21.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The firm had revenue of $11.27 billion during the quarter, compared to analyst estimates of $11.02 billion. During the same period in the previous year, the business posted $0.98 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, sell-side analysts forecast that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is presently 53.16%.

Analysts Set New Price Targets

Several research firms recently weighed in on NKE. China Renaissance started coverage on NIKE in a research report on Wednesday, March 19th. They set a “hold” rating on the stock. The Goldman Sachs Group dropped their target price on shares of NIKE from $88.00 to $72.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC reduced their target price on shares of NIKE from $84.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. Williams Trading lowered their price target on shares of NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, April 21st. Finally, Stifel Nicolaus dropped their price objective on shares of NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.93.

NIKE Company Profile

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.