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

Sagespring Wealth Partners LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,729 shares of the footwear maker’s stock, valued at approximately $358,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Caitlin John LLC increased its holdings in shares of NIKE by 117.0% in the fourth quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after purchasing an additional 200 shares during the period. Heck Capital Advisors LLC purchased a new position in NIKE in the 4th quarter valued at $28,000. Roxbury Financial LLC acquired a new position in NIKE in the 4th quarter valued at $30,000. LFA Lugano Financial Advisors SA raised 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 worth $30,000 after buying an additional 210 shares during the last quarter. Finally, Hopwood Financial Services Inc. acquired a new stake in shares of NIKE in the 4th quarter worth $30,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Activity at NIKE

In other news, Director Robert Holmes Swan bought 8,600 shares of NIKE stock in a transaction dated Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, with a total value of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NKE. Wells Fargo & Company dropped their price target on shares of NIKE from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. DA Davidson raised NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Jefferies Financial Group upgraded NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $75.00 to $115.00 in a research note on Monday, February 24th. Guggenheim reiterated a “buy” rating and issued a $110.00 price objective on shares of NIKE in a research report on Wednesday, February 12th. Finally, Citigroup lowered shares of NIKE from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $102.00 to $72.00 in a research report on Friday, February 7th. Sixteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.15.

NIKE Price Performance

Shares of NIKE stock opened at $54.84 on Wednesday. The stock has a market capitalization of $81.11 billion, a P/E ratio of 16.92, a PEG ratio of 2.52 and a beta of 1.15. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average price is $69.31 and its 200 day moving average price is $74.45. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $0.98 EPS. The company’s revenue was down 9.1% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.92%. NIKE’s dividend payout ratio (DPR) is 53.16%.

NIKE 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.