Sawgrass Asset Management LLC Has $1.02 Million Stake in NIKE, Inc. (NYSE:NKE)

Sawgrass Asset Management LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 92.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,132 shares of the footwear maker's stock after selling 189,809 shares during the period. Sawgrass Asset Management LLC's holdings in NIKE were worth $1,024,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of NIKE in the 4th quarter valued at approximately $1,126,288,000. Wellington Management Group LLP boosted its stake in shares of NIKE by 32.4% in the 4th quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after purchasing an additional 8,898,591 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after purchasing an additional 3,121,929 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of NIKE by 1,302.7% in the 4th quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker's stock valued at $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Finally, Capital World Investors boosted its stake in shares of NIKE by 10.3% in the 4th quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker's stock valued at $1,857,389,000 after purchasing an additional 2,288,627 shares in the last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NIKE

In related news, Director Robert Holmes Swan acquired 8,600 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.10% of the company's stock.

NIKE Stock Performance

NYSE:NKE opened at $59.78 on Monday. The firm has a market capitalization of $88.41 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.11 and a beta of 1.21. The company has a fifty day moving average of $59.78 and a 200-day moving average of $67.95. The company has a quick ratio of 1.52, a current ratio of 2.19 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $98.04.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. As a group, sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Monday, June 2nd. NIKE's payout ratio is 53.16%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NKE. Stifel Nicolaus reduced their price target on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research note on Thursday, April 10th. Royal Bank Of Canada cut their target price on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Wells Fargo & Company lifted their target price on shares of NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Berenberg Bank initiated coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a "hold" rating and a $58.00 target price on the stock. Finally, Telsey Advisory Group reiterated a "market perform" rating and set a $70.00 target price on shares of NIKE in a research report on Tuesday, June 17th. Sixteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $78.74.

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.

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