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.
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, 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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