Sawgrass Asset Management LLC grew its holdings in shares of Nike, Inc. (NYSE:NKE) by 12.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,193,160 shares of the footwear maker’s stock after purchasing an additional 134,320 shares during the period. Nike accounts for 3.2% of Sawgrass Asset Management LLC’s portfolio, making the stock its 4th biggest position. Sawgrass Asset Management LLC owned approximately 0.09% of Nike worth $70,396,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of NKE. Windsor Capital Management LLC acquired a new position in Nike during the 1st quarter valued at about $290,000. Compton Capital Management Inc. RI increased its stake in Nike by 0.5% during the 1st quarter. Compton Capital Management Inc. RI now owns 78,903 shares of the footwear maker’s stock valued at $4,397,000 after buying an additional 400 shares during the period. Ingalls & Snyder LLC acquired a new position in Nike during the 1st quarter valued at about $432,000. Northwestern Mutual Investment Management Company LLC increased its stake in Nike by 74.6% during the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 267,883 shares of the footwear maker’s stock valued at $14,929,000 after buying an additional 114,450 shares during the period. Finally, BP PLC acquired a new position in Nike during the 1st quarter valued at about $7,466,000. 62.78% of the stock is currently owned by institutional investors.
In other news, Chairman Mark G. Parker sold 135,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $55.03, for a total transaction of $7,429,050.00. Following the sale, the chairman now owns 1,637,736 shares in the company, valued at approximately $90,124,612.08. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Johnathan A. Rodgers sold 16,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $53.45, for a total value of $855,200.00. Following the transaction, the director now owns 25,660 shares in the company, valued at approximately $1,371,527. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
Nike, Inc. (NKE) traded down $0.70 during trading on Wednesday, hitting $59.72. The company had a trading volume of 7,862,151 shares, compared to its average volume of 9,579,048. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.81. Nike, Inc. has a fifty-two week low of $50.35 and a fifty-two week high of $61.21. The company has a market capitalization of $98,054.16, a PE ratio of 25.57, a price-to-earnings-growth ratio of 2.82 and a beta of 0.64.
Nike (NYSE:NKE) last announced its quarterly earnings results on Tuesday, September 26th. The footwear maker reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.09. Nike had a return on equity of 31.88% and a net margin of 11.47%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the business posted $0.73 EPS. Nike’s revenue was up .1% on a year-over-year basis. equities analysts predict that Nike, Inc. will post 2.28 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. This is an increase from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio is 34.04%.
Several research firms have recently weighed in on NKE. Morgan Stanley restated a “buy” rating and set a $64.00 price objective (down previously from $68.00) on shares of Nike in a research report on Tuesday, August 29th. Vetr upgraded shares of Nike from a “buy” rating to a “strong-buy” rating and set a $59.09 price objective for the company in a research report on Wednesday, September 6th. Telsey Advisory Group reduced their price objective on shares of Nike from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, August 30th. Wells Fargo & Company reiterated a “market perform” rating and issued a $55.00 target price (down from $56.00) on shares of Nike in a report on Tuesday, September 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Nike in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and nineteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $59.01.
Nike Company 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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