Sage Mountain Advisors LLC Has $640,000 Stock Holdings in NIKE, Inc. $NKE

Sage Mountain Advisors LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 177.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,005 shares of the footwear maker’s stock after buying an additional 5,765 shares during the quarter. Sage Mountain Advisors LLC’s holdings in NIKE were worth $640,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of NIKE by 344.2% in the first quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker’s stock worth $1,694,842,000 after acquiring an additional 20,688,013 shares during the last quarter. Wellington Management Group LLP boosted its holdings in NIKE by 24.9% in the 1st quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker’s stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares during the period. Jennison Associates LLC acquired a new stake in NIKE in the 1st quarter worth $509,051,000. Nuveen LLC acquired a new stake in NIKE in the 1st quarter worth $502,285,000. Finally, Vanguard Group Inc. increased its holdings in shares of NIKE by 4.6% during the 1st quarter. Vanguard Group Inc. now owns 113,151,080 shares of the footwear maker’s stock worth $7,182,831,000 after purchasing an additional 4,957,494 shares during the period. 64.25% of the stock is owned by institutional investors.

NIKE Trading Down 0.8%

Shares of NKE opened at $69.15 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59. The stock has a market cap of $102.22 billion, a PE ratio of 35.46, a PEG ratio of 2.55 and a beta of 1.29. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The stock has a 50 day simple moving average of $72.38 and a 200-day simple moving average of $67.88.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. During the same quarter in the previous year, the firm earned $0.70 EPS. NIKE’s quarterly revenue was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a $0.40 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.3%. NIKE’s payout ratio is 82.05%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NKE shares. The Goldman Sachs Group set a $85.00 target price on shares of NIKE and gave the company a “buy” rating in a research note on Thursday, September 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of NIKE in a report on Saturday. DZ Bank upgraded NIKE from a “hold” rating to a “buy” rating in a research report on Wednesday, October 1st. BTIG Research initiated coverage on NIKE in a research note on Tuesday, October 14th. They issued a “buy” rating and a $100.00 target price for the company. Finally, Stifel Nicolaus set a $68.00 target price on NIKE and gave the stock a “hold” rating in a research report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.21.

Insider Activity

In other news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president directly owned 29,396 shares of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 86,078 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total value of $6,535,902.54. Following the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at $56,566,938.84. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by corporate insiders.

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.