NIKE, Inc. (NYSE:NKE) Shares Purchased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC increased its position in shares of NIKE, Inc. (NYSE:NKE) by 108.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 205,941 shares of the footwear maker’s stock after purchasing an additional 107,265 shares during the quarter. NIKE accounts for 1.7% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 14th biggest holding. Sawgrass Asset Management LLC’s holdings in NIKE were worth $15,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Range Financial Group LLC purchased a new position in NIKE during the fourth quarter worth $642,000. Cacti Asset Management LLC acquired a new position in NIKE in the fourth quarter valued at $9,987,000. Capricorn Fund Managers Ltd acquired a new position in NIKE in the fourth quarter valued at $5,384,000. Klein Pavlis & Peasley Financial Inc. boosted its holdings in NIKE by 31.1% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock valued at $1,955,000 after acquiring an additional 6,124 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its stake in shares of NIKE by 5,745.9% during the fourth quarter. FNY Investment Advisers LLC now owns 8,652 shares of the footwear maker’s stock worth $654,000 after purchasing an additional 8,504 shares in the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Price Performance

Shares of NYSE:NKE opened at $72.31 on Thursday. The company’s fifty day moving average is $74.80 and its two-hundred day moving average is $78.08. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE, Inc. has a 12-month low of $68.62 and a 12-month high of $107.34. The company has a market cap of $106.96 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last announced its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the business earned $1.03 EPS. The company’s revenue was down 7.7% on a year-over-year basis. Equities analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In other NIKE news, Director John W. Rogers, Jr. bought 2,500 shares of the stock in a transaction on Friday, December 27th. The shares were purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NKE has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Morgan Stanley cut their price target on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Guggenheim reissued a “buy” rating and issued a $110.00 price objective on shares of NIKE in a report on Wednesday. Finally, DA Davidson raised NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and an average target price of $88.62.

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.