Sawyer & Company Inc Grows Holdings in NIKE, Inc. (NYSE:NKE)

Sawyer & Company Inc increased its position in shares of NIKE, Inc. (NYSE:NKE) by 1.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,833 shares of the footwear maker’s stock after purchasing an additional 744 shares during the quarter. Sawyer & Company Inc’s holdings in NIKE were worth $2,846,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in NIKE by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker’s stock worth $2,749,903,000 after purchasing an additional 8,898,591 shares during the last quarter. Geode Capital Management LLC boosted its holdings in NIKE by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 25,376,558 shares of the footwear maker’s stock worth $1,915,110,000 after purchasing an additional 347,178 shares during the last quarter. Capital World Investors boosted its holdings in NIKE by 10.3% during the fourth quarter. Capital World Investors now owns 24,545,937 shares of the footwear maker’s stock worth $1,857,389,000 after purchasing an additional 2,288,627 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in NIKE by 18.1% during the fourth quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker’s stock worth $1,541,246,000 after purchasing an additional 3,121,929 shares during the last quarter. Finally, Norges Bank purchased a new position in NIKE during the fourth quarter worth about $1,126,288,000. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Robert W. Baird cut their price target on shares of NIKE from $105.00 to $99.00 and set an “outperform” rating on the stock in a report on Friday, March 21st. Barclays dropped their target price on shares of NIKE from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Telsey Advisory Group reiterated a “market perform” rating and issued a $70.00 target price on shares of NIKE in a research note on Tuesday. Berenberg Bank initiated coverage on shares of NIKE in a research note on Tuesday, April 15th. They issued a “hold” rating and a $58.00 target price on the stock. Finally, UBS Group dropped their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average price target of $78.74.

NIKE Price Performance

Shares of NIKE stock opened at $59.78 on Friday. NIKE, Inc. has a 52-week low of $52.28 and a 52-week high of $98.04. The stock has a market capitalization of $88.41 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.10 and a beta of 1.21. The company has a fifty day moving average of $59.78 and a 200-day moving average of $68.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.19.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The company had revenue of $11.27 billion during the quarter, compared to analysts’ expectations of $11.02 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s revenue was down 9.1% on a year-over-year basis. Equities research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

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

Insider Activity

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The stock was bought at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.10% of the stock is owned by corporate insiders.

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.