Sage Mountain Advisors LLC Increases Stock Position in NIKE, Inc. (NYSE:NKE)

Sage Mountain Advisors LLC lifted its holdings in shares of NIKE, Inc. (NYSE:NKE) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,645 shares of the footwear maker’s stock after buying an additional 121 shares during the quarter. Sage Mountain Advisors LLC’s holdings in NIKE were worth $396,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of NKE. Impact Partnership Wealth LLC lifted its stake in shares of NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC lifted its stake in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of NIKE during the 4th quarter valued at approximately $29,000. Raleigh Capital Management Inc. lifted its stake in shares of NIKE by 134.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 377 shares of the footwear maker’s stock valued at $36,000 after buying an additional 216 shares in the last quarter. Finally, Stephens Consulting LLC lifted its stake in shares of NIKE by 160.0% during the 3rd quarter. Stephens Consulting LLC now owns 390 shares of the footwear maker’s stock valued at $37,000 after buying an additional 240 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NKE shares. Truist Financial restated a “hold” rating and set a $111.00 price target on shares of NIKE in a research note on Tuesday, March 19th. Piper Sandler decreased their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a report on Friday, March 22nd. Wells Fargo & Company decreased their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. TheStreet lowered shares of NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Finally, UBS Group decreased their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a 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 $116.26.

NIKE Price Performance

Shares of NYSE:NKE opened at $94.20 on Tuesday. The stock has a market cap of $142.18 billion, a PE ratio of 27.71, a PEG ratio of 1.82 and a beta of 1.09. The company’s fifty day moving average is $97.85 and its 200 day moving average is $103.46. NIKE, Inc. has a 52 week low of $88.66 and a 52 week high of $128.68. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The company had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

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

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.