Mackenzie Financial Corp cut its stake in shares of Nike (NYSE:NKE) by 22.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,288,539 shares of the footwear maker’s stock after selling 1,542,050 shares during the period. Mackenzie Financial Corp owned about 0.33% of Nike worth $330,798,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. KCM Investment Advisors LLC grew its position in shares of Nike by 4.3% during the 2nd quarter. KCM Investment Advisors LLC now owns 178,169 shares of the footwear maker’s stock valued at $10,512,000 after acquiring an additional 7,302 shares during the period. Bahl & Gaynor Inc. grew its position in shares of Nike by 2.2% during the 2nd quarter. Bahl & Gaynor Inc. now owns 601,145 shares of the footwear maker’s stock valued at $30,556,000 after acquiring an additional 12,914 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of Nike by 8.5% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 263,817 shares of the footwear maker’s stock valued at $15,565,000 after acquiring an additional 20,588 shares during the period. Amalgamated Bank grew its position in shares of Nike by 55.2% during the 2nd quarter. Amalgamated Bank now owns 156,134 shares of the footwear maker’s stock valued at $9,212,000 after acquiring an additional 55,512 shares during the period. Finally, BT Investment Management Ltd bought a new stake in shares of Nike during the 2nd quarter valued at $959,000. Institutional investors and hedge funds own 65.67% of the company’s stock.
Nike stock opened at $67.55 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.73 and a current ratio of 2.66. Nike has a 1-year low of $50.35 and a 1-year high of $70.25. The stock has a market capitalization of $111,315.16, a P/E ratio of 26.91, a PEG ratio of 2.91 and a beta of 0.65.
Nike (NYSE:NKE) last posted its quarterly earnings data on Thursday, March 22nd. The footwear maker reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.15. Nike had a net margin of 5.11% and a return on equity of 33.38%. The company had revenue of $8.98 billion for the quarter, compared to analyst estimates of $8.85 billion. During the same period in the prior year, the company posted $0.68 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. sell-side analysts expect that Nike will post 2.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 2nd. Investors of record on Monday, March 5th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Friday, March 2nd. Nike’s dividend payout ratio (DPR) is currently 31.87%.
Several research analysts recently weighed in on NKE shares. OTR Global raised shares of Nike to a “positive” rating in a report on Monday, December 11th. Susquehanna Bancshares reaffirmed a “hold” rating and issued a $57.00 target price on shares of Nike in a report on Wednesday, December 13th. Vetr downgraded shares of Nike from a “hold” rating to a “sell” rating and set a $59.88 target price for the company. in a report on Thursday, December 14th. DA Davidson set a $68.00 target price on shares of Nike and gave the stock a “buy” rating in a report on Thursday, December 14th. Finally, Wedbush reaffirmed a “hold” rating and issued a $57.00 target price (up previously from $52.00) on shares of Nike in a report on Thursday, December 14th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-four have given a buy rating to the stock. Nike currently has an average rating of “Hold” and a consensus price target of $68.55.
In related news, Chairman Mark G. Parker sold 135,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $70.00, for a total value of $9,450,000.00. Following the sale, the chairman now directly owns 1,637,736 shares of the company’s stock, valued at approximately $114,641,520. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 100,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total transaction of $6,766,000.00. Following the completion of the sale, the insider now directly owns 227,199 shares in the company, valued at $15,372,284.34. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
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Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. It offers NIKE brand products in nine categories: running, NIKE basketball, the Jordan brand, football, men's training, women's training, action sports, sportswear, and golf.
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