Sagespring Wealth Partners LLC Makes New $358,000 Investment in NIKE, Inc. (NYSE:NKE)

Sagespring Wealth Partners LLC purchased a new position in shares of NIKE, Inc. (NYSE:NKE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,729 shares of the footwear maker's stock, valued at approximately $358,000.

Several other hedge funds have also made changes to their positions in NKE. Heck Capital Advisors LLC acquired a new position in shares of NIKE during the fourth quarter valued at $28,000. Caitlin John LLC grew its position in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker's stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Roxbury Financial LLC acquired a new position in NIKE during the 4th quarter worth $30,000. LFA Lugano Financial Advisors SA raised its position in shares of 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 in the last quarter. Finally, Hopwood Financial Services Inc. bought a new stake in NIKE during the fourth quarter worth approximately $30,000. Institutional investors own 64.25% of the company's stock.

Analyst Ratings Changes

NKE has been the subject of a number of research analyst reports. Robert W. Baird cut their price target on shares of NIKE from $105.00 to $99.00 and set an "outperform" rating for the company in a report on Friday, March 21st. Berenberg Bank initiated coverage on shares of NIKE in a research report on Tuesday. They issued a "hold" rating and a $58.00 price target on the stock. Wells Fargo & Company dropped their price target on NIKE from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. Truist Financial reduced their price target on shares of NIKE from $90.00 to $82.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Finally, Morgan Stanley lowered their price objective on shares of NIKE from $72.00 to $70.00 and set an "equal weight" rating on the stock in a research report on Friday, March 21st. Sixteen equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $85.15.

Insider Buying and Selling at NIKE

In related news, Chairman Mark G. Parker sold 169,732 shares of the business's stock in a transaction dated 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 transaction, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. The trade was a 15.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert Holmes Swan acquired 8,600 shares of NIKE stock in a transaction on Friday, April 4th. The stock was purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the transaction, the director now directly 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 disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

NIKE Stock Performance

Shares of NYSE:NKE traded up $2.18 during trading on Friday, reaching $55.73. The stock had a trading volume of 18,891,139 shares, compared to its average volume of 14,180,177. The stock has a fifty day simple moving average of $68.71 and a two-hundred day simple moving average of $74.09. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $98.04. The firm has a market capitalization of $82.44 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 2.52 and a beta of 1.15.

NIKE (NYSE:NKE - Get Free Report) last announced its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the firm posted $0.98 EPS. The business's quarterly revenue was down 9.1% on a year-over-year basis. As a group, analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were paid a dividend of $0.40 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.60 annualized dividend and a yield of 2.87%. NIKE's payout ratio 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.