Sawgrass Asset Management LLC Sells 4,067 Shares of NIKE, Inc. (NYSE:NKE)

Sawgrass Asset Management LLC lowered its position in shares of NIKE, Inc. (NYSE:NKE) by 4.0% during the third quarter, HoldingsChannel.com reports. The fund owned 98,676 shares of the footwear maker’s stock after selling 4,067 shares during the quarter. Sawgrass Asset Management LLC’s holdings in NIKE were worth $8,723,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Transcendent Capital Group LLC boosted its position in shares of NIKE by 97.6% during the 1st quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock valued at $38,000 after purchasing an additional 200 shares in the last quarter. VitalStone Financial LLC lifted its stake in NIKE by 52.6% in the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the period. Bruce G. Allen Investments LLC boosted its holdings in shares of NIKE by 272.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after buying an additional 376 shares in the last quarter. Triad Wealth Partners LLC acquired a new stake in shares of NIKE during the 2nd quarter worth approximately $44,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of NIKE in the 2nd quarter valued at $46,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.

NIKE Trading Up 1.3 %

NYSE NKE opened at $76.66 on Friday. The business’s fifty day moving average is $80.89 and its 200-day moving average is $83.20. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58. The stock has a market capitalization of $114.94 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company earned $0.94 earnings per share. The company’s quarterly revenue was down 10.4% on a year-over-year basis. Equities research analysts predict that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.40 dividend. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is currently 42.41%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Bank of America reduced their price target on shares of NIKE from $104.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Evercore ISI reduced their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Morgan Stanley upped their price target on NIKE from $79.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Guggenheim reduced their price objective on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lowered their target price on NIKE from $80.00 to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $96.48.

NIKE Company 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.