Nike, Inc. (NKE) is Sawgrass Asset Management LLC’s 4th Largest Position

Sawgrass Asset Management LLC increased its holdings in Nike, Inc. (NYSE:NKE) by 12.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,193,160 shares of the footwear maker’s stock after purchasing an additional 134,320 shares during the period. Nike makes up 3.2% of Sawgrass Asset Management LLC’s portfolio, making the stock its 4th biggest position. Sawgrass Asset Management LLC owned about 0.09% of Nike worth $70,396,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of NKE. OppenheimerFunds Inc. increased its holdings in shares of Nike by 7,020.1% during the first quarter. OppenheimerFunds Inc. now owns 5,349,793 shares of the footwear maker’s stock worth $298,145,000 after buying an additional 5,274,656 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Nike by 25.5% during the second quarter. Alliancebernstein L.P. now owns 14,927,619 shares of the footwear maker’s stock worth $880,730,000 after buying an additional 3,033,280 shares in the last quarter. Flossbach Von Storch AG increased its holdings in shares of Nike by 141.9% during the second quarter. Flossbach Von Storch AG now owns 4,669,950 shares of the footwear maker’s stock worth $275,527,000 after buying an additional 2,739,500 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Nike by 2.5% during the second quarter. Vanguard Group Inc. now owns 99,605,408 shares of the footwear maker’s stock worth $5,876,718,000 after buying an additional 2,452,993 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Nike by 5.0% during the first quarter. Wellington Management Group LLP now owns 49,907,256 shares of the footwear maker’s stock worth $2,781,332,000 after buying an additional 2,375,447 shares in the last quarter. 62.02% of the stock is owned by hedge funds and other institutional investors.

In other Nike news, Chairman Mark G. Parker sold 135,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $55.03, for a total value of $7,429,050.00. Following the completion of the sale, the chairman now owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $53.45, for a total transaction of $855,200.00. Following the completion of the sale, the director now directly owns 25,660 shares of the company’s stock, valued at approximately $1,371,527. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.

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Several research firms have recently weighed in on NKE. Guggenheim reaffirmed a “buy” rating and set a $70.00 price objective on shares of Nike in a report on Monday, July 24th. Cowen and Company set a $54.00 price objective on shares of Nike and gave the stock a “hold” rating in a report on Friday, August 4th. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 price objective on shares of Nike in a report on Friday. Jefferies Group LLC set a $75.00 price objective on shares of Nike and gave the stock a “buy” rating in a report on Tuesday, August 15th. Finally, Zacks Investment Research raised shares of Nike from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $58.92.

Shares of Nike, Inc. (NKE) opened at $59.25 on Tuesday. The company has a market cap of $96,670.00, a PE ratio of 25.19, a P/E/G ratio of 2.77 and a beta of 0.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.81 and a current ratio of 2.67. Nike, Inc. has a twelve month low of $50.06 and a twelve month high of $60.53.

Nike (NYSE:NKE) last announced its earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.48 by $0.09. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.08 billion. Nike had a net margin of 11.47% and a return on equity of 31.88%. Nike’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. analysts forecast that Nike, Inc. will post 2.28 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be issued a dividend of $0.20 per share. This is an increase from Nike’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, December 1st. This represents a $0.80 annualized dividend and a dividend yield of 1.35%. Nike’s payout ratio is presently 30.77%.

Nike Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

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Institutional Ownership by Quarter for Nike (NYSE:NKE)

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