Sage Mountain Advisors LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

Sage Mountain Advisors LLC increased its position in NIKE, Inc. (NYSE:NKE) by 3.4% in the 4th quarter, HoldingsChannel reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. RFG Advisory LLC boosted its stake in NIKE by 9.7% in the 3rd quarter. RFG Advisory LLC now owns 6,492 shares of the footwear maker’s stock worth $621,000 after purchasing an additional 573 shares during the period. Naples Global Advisors LLC boosted its stake in NIKE by 9.9% in the 3rd quarter. Naples Global Advisors LLC now owns 5,402 shares of the footwear maker’s stock worth $518,000 after purchasing an additional 486 shares during the period. Capital Investment Advisors LLC boosted its stake in NIKE by 3.7% in the 3rd quarter. Capital Investment Advisors LLC now owns 18,458 shares of the footwear maker’s stock worth $1,765,000 after purchasing an additional 652 shares during the period. Impact Partnership Wealth LLC boosted its stake in NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares during the period. Finally, 1900 Wealth Management LLC boosted its stake in NIKE by 4.6% in the 3rd quarter. 1900 Wealth Management LLC now owns 9,832 shares of the footwear maker’s stock worth $940,000 after purchasing an additional 429 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NKE has been the subject of several recent analyst reports. Evercore ISI dropped their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Citigroup lowered their target price on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Sanford C. Bernstein lowered their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Wedbush reiterated an “outperform” rating and set a $115.00 target price on shares of NIKE in a research report on Wednesday, March 27th. Finally, Morgan Stanley lowered their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

Shares of NIKE stock opened at $94.20 on Tuesday. The firm has a market cap of $142.18 billion, a P/E ratio of 27.71, a P/E/G ratio of 1.82 and a beta of 1.09. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. NIKE, Inc. has a 12 month low of $88.66 and a 12 month high of $128.68. The stock’s fifty day moving average price is $97.85 and its 200-day moving average price is $103.46.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. On average, equities research analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

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