Mawer Investment Management Ltd. Trims Holdings in NIKE, Inc. (NYSE:NKE)

Mawer Investment Management Ltd. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 0.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,476,072 shares of the footwear maker’s stock after selling 10,030 shares during the quarter. Mawer Investment Management Ltd. owned 0.10% of NIKE worth $130,485,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ontario Teachers Pension Plan Board bought a new stake in NIKE in the first quarter valued at $868,000. Edgestream Partners L.P. acquired a new position in shares of NIKE during the first quarter valued at $727,000. Jacobi Capital Management LLC lifted its stake in shares of NIKE by 12.6% during the first quarter. Jacobi Capital Management LLC now owns 4,532 shares of the footwear maker’s stock valued at $426,000 after acquiring an additional 508 shares during the period. Hillsdale Investment Management Inc. increased its holdings in NIKE by 403.1% in the first quarter. Hillsdale Investment Management Inc. now owns 9,554 shares of the footwear maker’s stock valued at $898,000 after purchasing an additional 7,655 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of NIKE by 51.4% in the first quarter. Covestor Ltd now owns 825 shares of the footwear maker’s stock worth $77,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NKE. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $95.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. Jefferies Financial Group increased their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Guggenheim decreased their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. cut their price target on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Wednesday, October 2nd. Finally, Bank of America decreased their price objective on NIKE from $104.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.30.

NIKE Stock Down 2.5 %

NIKE stock traded down $1.90 during mid-day trading on Monday, reaching $74.76. 220,844 shares of the company were exchanged, compared to its average volume of 11,438,513. The business has a fifty day moving average of $80.89 and a 200 day moving average of $83.15. 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 quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 12-month low of $70.75 and a 12-month high of $123.39.

NIKE (NYSE:NKE) last posted its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue for the quarter was down 10.4% on a year-over-year basis. Research analysts anticipate that NIKE, Inc. will post 2.74 earnings per share for the current fiscal year.

NIKE Increases Dividend

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

About NIKE

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.