Mackenzie Financial Corp Increases Stock Holdings in NIKE, Inc. (NYSE:NKE)

Mackenzie Financial Corp lifted its position in NIKE, Inc. (NYSE:NKE) by 75.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 539,650 shares of the footwear maker’s stock after purchasing an additional 231,417 shares during the quarter. Mackenzie Financial Corp’s holdings in NIKE were worth $40,835,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NKE. Klein Pavlis & Peasley Financial Inc. lifted its position in shares of NIKE by 31.1% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 25,835 shares of the footwear maker’s stock worth $1,955,000 after purchasing an additional 6,124 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of NIKE by 1,302.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,602,101 shares of the footwear maker’s stock worth $196,901,000 after purchasing an additional 2,416,601 shares in the last quarter. Capitolis Liquid Global Markets LLC lifted its position in shares of NIKE by 40.9% during the fourth quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker’s stock worth $23,458,000 after purchasing an additional 90,000 shares in the last quarter. Stonegate Investment Group LLC lifted its position in shares of NIKE by 18.5% during the fourth quarter. Stonegate Investment Group LLC now owns 670,616 shares of the footwear maker’s stock worth $50,746,000 after purchasing an additional 104,786 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of NIKE during the fourth quarter worth about $623,000. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 8,600 shares of the firm’s stock in a transaction that occurred on Friday, April 4th. The shares were acquired at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the transaction, the director now directly owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by corporate insiders.

NIKE Price Performance

NIKE stock opened at $60.02 on Monday. NIKE, Inc. has a one year low of $52.28 and a one year high of $98.04. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The business has a fifty day moving average of $59.88 and a two-hundred day moving average of $70.11. The company has a market cap of $88.78 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 2.52 and a beta of 1.23.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $11.27 billion during the quarter, compared to the consensus estimate of $11.02 billion. During the same quarter last year, the company earned $0.98 earnings per share. NIKE’s quarterly revenue was down 9.1% compared to the same quarter last year. As a group, analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Monday, June 2nd. NIKE’s dividend payout ratio (DPR) is currently 53.16%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Morgan Stanley reduced their price target on shares of NIKE from $72.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Bank of America reduced their target price on shares of NIKE from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Truist Financial reduced their target price on shares of NIKE from $90.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Barclays reduced their target price on shares of NIKE from $70.00 to $60.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th. Finally, UBS Group reduced their target price on shares of NIKE from $73.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, March 21st. Seventeen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus price target of $80.26.

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.