Sawgrass Asset Management LLC Sells 145,660 Shares of Nike Inc (NKE)

Sawgrass Asset Management LLC reduced its position in shares of Nike Inc (NYSE:NKE) by 12.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,047,500 shares of the footwear maker’s stock after selling 145,660 shares during the period. Nike comprises approximately 2.7% of Sawgrass Asset Management LLC’s holdings, making the stock its 7th largest holding. Sawgrass Asset Management LLC’s holdings in Nike were worth $54,313,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. TD Asset Management Inc. raised its position in shares of Nike by 11.2% during the 3rd quarter. TD Asset Management Inc. now owns 1,743,440 shares of the footwear maker’s stock valued at $90,397,000 after acquiring an additional 176,201 shares in the last quarter. Van Hulzen Asset Management LLC increased its position in Nike by 3.3% in the third quarter. Van Hulzen Asset Management LLC now owns 90,604 shares of the footwear maker’s stock worth $4,698,000 after buying an additional 2,905 shares during the period. South Dakota Investment Council increased its position in Nike by 152.4% in the third quarter. South Dakota Investment Council now owns 32,814 shares of the footwear maker’s stock worth $1,701,000 after buying an additional 19,814 shares during the period. Morningstar Investment Services LLC increased its position in Nike by 13.8% in the third quarter. Morningstar Investment Services LLC now owns 8,557 shares of the footwear maker’s stock worth $444,000 after buying an additional 1,037 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in Nike by 29.1% in the third quarter. Oppenheimer & Co. Inc. now owns 61,037 shares of the footwear maker’s stock worth $3,164,000 after buying an additional 13,743 shares during the period. 62.67% of the stock is currently owned by institutional investors and hedge funds.

In related news, COO Eric D. Sprunk sold 226,040 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $63.10, for a total transaction of $14,263,124.00. Following the completion of the transaction, the chief operating officer now owns 165,591 shares of the company’s stock, valued at $10,448,792.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Mark G. Parker sold 135,000 shares of the firm’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 transaction, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $90,124,612.08. The disclosure for this sale can be found here. Insiders have sold 967,896 shares of company stock valued at $60,257,267 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Several equities research analysts have weighed in on NKE shares. JPMorgan Chase & Co. set a $58.00 target price on Nike and gave the stock a “neutral” rating in a research report on Tuesday, January 2nd. Goldman Sachs Group set a $62.00 target price on Nike and gave the stock a “neutral” rating in a research report on Thursday, December 28th. Buckingham Research started coverage on Nike in a research report on Sunday, December 31st. They issued a “buy” rating and a $72.00 target price on the stock. Bank of America set a $42.00 target price on Nike and gave the stock a “sell” rating in a research report on Friday, December 22nd. Finally, Morgan Stanley set a $64.00 target price on Nike and gave the stock a “buy” rating in a research report on Monday, September 18th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and twenty-two have issued a buy rating to the company. Nike presently has an average rating of “Hold” and an average price target of $64.14.

Nike Inc (NYSE:NKE) opened at $64.55 on Tuesday. Nike Inc has a 52 week low of $50.35 and a 52 week high of $65.18. The firm has a market capitalization of $105,310.00, a PE ratio of 27.94, a P/E/G ratio of 2.90 and a beta of 0.64. The company has a current ratio of 2.46, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.

Nike (NYSE:NKE) last announced its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. equities analysts forecast that Nike Inc will post 2.25 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 4th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.24%. This is a boost from Nike’s previous quarterly dividend of $0.18. Nike’s dividend payout ratio (DPR) is currently 34.63%.

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About Nike

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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