Sawgrass Asset Management LLC lessened its stake in shares of Nike Inc (NYSE:NKE) by 12.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,047,500 shares of the footwear maker’s stock after selling 145,660 shares during the period. Nike accounts for about 2.7% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 7th biggest holding. Sawgrass Asset Management LLC owned approximately 0.06% of Nike worth $54,313,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Fiduciary Trust Co. lifted its position in shares of Nike by 4.9% in the second quarter. Fiduciary Trust Co. now owns 230,463 shares of the footwear maker’s stock valued at $13,597,000 after acquiring an additional 10,840 shares in the last quarter. Sterling Investment Advisors Ltd. lifted its position in shares of Nike by 651.4% in the second quarter. Sterling Investment Advisors Ltd. now owns 27,050 shares of the footwear maker’s stock valued at $1,596,000 after acquiring an additional 23,450 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Nike by 4.3% in the second quarter. Great Lakes Advisors LLC now owns 97,145 shares of the footwear maker’s stock valued at $5,732,000 after acquiring an additional 4,030 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in shares of Nike by 20.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 103,689 shares of the footwear maker’s stock valued at $6,118,000 after acquiring an additional 17,285 shares in the last quarter. Finally, Airain ltd purchased a new position in shares of Nike in the second quarter valued at about $3,189,000. 62.97% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on NKE shares. Deutsche Bank set a $61.00 price objective on Nike and gave the company a “buy” rating in a research report on Thursday, October 26th. Buckingham Research set a $64.00 price objective on Nike and gave the company a “buy” rating in a research report on Tuesday, October 17th. Citigroup restated a “buy” rating and issued a $65.00 price objective on shares of Nike in a research report on Monday, October 16th. Robert W. Baird restated a “buy” rating on shares of Nike in a research report on Friday, October 13th. Finally, Vetr upgraded Nike from a “hold” rating to a “buy” rating and set a $58.95 price objective on the stock in a research report on Monday, October 30th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. Nike presently has an average rating of “Hold” and an average price target of $65.05.
In other news, insider Eric D. Sprunk sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the transaction, the insider now owns 227,199 shares of the company’s stock, valued at $15,372,284.34. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John F. Slusher sold 125,722 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $63.17, for a total value of $7,941,858.74. Following the transaction, the executive vice president now directly owns 268,169 shares in the company, valued at approximately $16,940,235.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 932,896 shares of company stock worth $59,594,217. Insiders own 3.90% of the company’s stock.
Shares of Nike Inc (NYSE:NKE) traded up $0.89 during mid-day trading on Wednesday, reaching $68.22. The company’s stock had a trading volume of 11,040,000 shares, compared to its average volume of 8,440,000. Nike Inc has a fifty-two week low of $50.35 and a fifty-two week high of $68.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.46. The stock has a market capitalization of $111,300.00, a P/E ratio of 29.53, a PEG ratio of 3.06 and a beta of 0.64.
Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. equities research analysts expect that Nike Inc will post 2.25 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 4th were given a dividend of $0.20 per share. The ex-dividend date was Friday, December 1st. This is an increase from Nike’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.17%. Nike’s dividend payout ratio is 34.63%.
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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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