Sagespring Wealth Partners LLC Purchases 5,345 Shares of NIKE, Inc. (NYSE:NKE)

Sagespring Wealth Partners LLC boosted its position in NIKE, Inc. (NYSE:NKE) by 113.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Precedent Wealth Partners LLC raised its position in shares of NIKE by 31.0% in the first quarter. Precedent Wealth Partners LLC now owns 14,083 shares of the footwear maker’s stock valued at $894,000 after purchasing an additional 3,335 shares during the period. Cypress Advisory Group LLC boosted its holdings in NIKE by 4.3% in the 1st quarter. Cypress Advisory Group LLC now owns 13,354 shares of the footwear maker’s stock worth $848,000 after buying an additional 550 shares during the period. Lorne Steinberg Wealth Management Inc. grew its stake in NIKE by 2.9% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 37,141 shares of the footwear maker’s stock valued at $2,358,000 after buying an additional 1,045 shares in the last quarter. Sowell Financial Services LLC raised its holdings in NIKE by 5.4% during the 1st quarter. Sowell Financial Services LLC now owns 37,237 shares of the footwear maker’s stock valued at $2,364,000 after acquiring an additional 1,921 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in NIKE by 8.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 140,764 shares of the footwear maker’s stock valued at $8,936,000 after acquiring an additional 10,679 shares during the period. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NKE stock opened at $60.02 on Wednesday. The firm has a market cap of $88.77 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.14 and a beta of 1.21. The firm’s fifty day moving average is $59.57 and its 200 day moving average is $68.42. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. NIKE had a return on equity of 32.18% and a net margin of 9.43%. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. Research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NKE. Royal Bank Of Canada reduced their price target on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, May 20th. Wells Fargo & Company lifted their target price on NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Truist Financial lowered their price target on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Bank of America cut their price objective on shares of NIKE from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Williams Trading decreased their target price on shares of NIKE from $93.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, April 21st. Seventeen investment 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.93.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan purchased 8,600 shares of the business’s stock in a transaction on Friday, April 4th. The shares were acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the acquisition, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. The trade was a 36.78% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.