Sage Mountain Advisors LLC Purchases 352 Shares of NIKE, Inc. (NYSE:NKE)

Sage Mountain Advisors LLC increased its position in NIKE, Inc. (NYSE:NKE) by 10.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,642 shares of the footwear maker’s stock after acquiring an additional 352 shares during the period. Sage Mountain Advisors LLC’s holdings in NIKE were worth $275,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of NIKE by 0.5% in the first quarter. Vanguard Group Inc. now owns 110,044,821 shares of the footwear maker’s stock worth $10,342,012,000 after acquiring an additional 501,792 shares during the period. Capital International Investors grew its holdings in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after purchasing an additional 7,996,434 shares during the period. Norges Bank bought a new stake in NIKE during the fourth quarter valued at about $1,315,097,000. Finally, Fisher Asset Management LLC grew its holdings in NIKE by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 9,880,038 shares of the footwear maker’s stock valued at $1,072,676,000 after purchasing an additional 211,360 shares during the period. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert Holmes Swan acquired 2,941 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the acquisition, the director now owns 20,946 shares in the company, valued at approximately $1,613,260.92. The disclosure for this purchase can be found here. Insiders own 0.50% of the company’s stock.

NIKE Trading Up 0.1 %

NYSE:NKE traded up $0.06 during midday trading on Friday, hitting $83.32. The stock had a trading volume of 13,755,265 shares, compared to its average volume of 11,371,491. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $124.93 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.19 and a beta of 1.01. The stock has a 50-day moving average of $77.91 and a 200 day moving average of $89.49. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 EPS. As a group, sell-side analysts forecast that NIKE, Inc. will post 3.1 EPS for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 annualized dividend and a yield of 1.78%. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Wall Street Analysts Forecast Growth

NKE has been the subject of several recent research reports. Stifel Nicolaus cut their price target on NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a report on Monday, August 26th. Guggenheim cut their price target on NIKE from $130.00 to $115.00 and set a “buy” rating for the company in a report on Friday, June 28th. Royal Bank of Canada cut their price target on NIKE from $100.00 to $75.00 and set a “sector perform” rating for the company in a report on Tuesday, July 2nd. BMO Capital Markets dropped their price objective on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. Finally, Jefferies Financial Group decreased their target price on NIKE from $90.00 to $80.00 in a research report on Friday, July 12th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.59.

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.