Mawer Investment Management Ltd. Decreases Position in NIKE, Inc. (NYSE:NKE)

Mawer Investment Management Ltd. reduced its position in shares of NIKE, Inc. (NYSE:NKE) by 0.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,476,072 shares of the footwear maker’s stock after selling 10,030 shares during the period. Mawer Investment Management Ltd.’s holdings in NIKE were worth $130,485,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Transcendent Capital Group LLC boosted its stake in shares of NIKE by 97.6% during the first quarter. Transcendent Capital Group LLC now owns 405 shares of the footwear maker’s stock worth $38,000 after buying an additional 200 shares during the period. VitalStone Financial LLC raised its holdings in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in NIKE by 272.5% during the second quarter. Bruce G. Allen Investments LLC now owns 514 shares of the footwear maker’s stock worth $39,000 after purchasing an additional 376 shares in the last quarter. Triad Wealth Partners LLC purchased a new position in NIKE during the second quarter worth about $44,000. Finally, MFA Wealth Advisors LLC purchased a new position in NIKE during the second quarter worth about $46,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

NIKE Price Performance

Shares of NKE traded down $1.90 during midday trading on Monday, hitting $74.76. 220,844 shares of the company traded hands, compared to its average volume of 11,438,513. The stock has a 50-day moving average of $80.89 and a 200-day moving average of $83.15. NIKE, Inc. has a one year low of $70.75 and a one year high of $123.39. The firm has a market cap of $112.09 billion, a P/E ratio of 21.89, a PEG ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.36 and a quick ratio of 1.58.

NIKE (NYSE:NKE) last released its quarterly earnings data 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. The firm had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, sell-side analysts predict that NIKE, Inc. will post 2.74 EPS for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio (DPR) is 42.41%.

Analyst Upgrades and Downgrades

NKE has been the subject of a number of research analyst reports. Sanford C. Bernstein dropped their target price on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Telsey Advisory Group lowered their price target on shares of NIKE from $100.00 to $96.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 2nd. Robert W. Baird raised their target price on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group lifted their price target on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, NIKE currently has a consensus rating of “Moderate Buy” and an average target price of $96.30.

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.