Mackenzie Financial Corp Purchases 231,417 Shares of NIKE, Inc. (NYSE:NKE)

Mackenzie Financial Corp grew its holdings in NIKE, Inc. (NYSE:NKE - Free Report) by 75.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 539,650 shares of the footwear maker's stock after purchasing an additional 231,417 shares during the period. Mackenzie Financial Corp's holdings in NIKE were worth $40,835,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in shares of NIKE during the 4th quarter worth approximately $1,126,288,000. Wellington Management Group LLP grew its stake in shares of NIKE by 32.4% in the fourth quarter. Wellington Management Group LLP now owns 36,340,736 shares of the footwear maker's stock valued at $2,749,903,000 after buying an additional 8,898,591 shares in the last quarter. Pacer Advisors Inc. raised its position in NIKE by 6,029.6% during the fourth quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after acquiring an additional 6,709,985 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of NIKE by 18.1% in the 4th quarter. Bank of New York Mellon Corp now owns 20,367,993 shares of the footwear maker's stock valued at $1,541,246,000 after acquiring an additional 3,121,929 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of NIKE by 1,302.7% during the 4th 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 during the last quarter. Institutional investors own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Telsey Advisory Group cut their target price on shares of NIKE from $80.00 to $70.00 and set a "market perform" rating for the company in a research note on Tuesday, May 6th. China Renaissance started coverage on NIKE in a research note on Wednesday, March 19th. They issued a "hold" rating on the stock. Cfra Research raised NIKE to a "moderate buy" rating in a research report on Friday, March 21st. Williams Trading reduced their target price on NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, April 21st. Finally, BMO Capital Markets dropped their price target on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. Seventeen investment 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 company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $80.26.

NIKE Price Performance

NYSE:NKE traded down $1.02 during mid-day trading on Friday, reaching $60.42. The stock had a trading volume of 5,378,301 shares, compared to its average volume of 14,958,532. NIKE, Inc. has a 12 month low of $52.28 and a 12 month high of $98.04. The stock has a market capitalization of $89.37 billion, a PE ratio of 18.64, a P/E/G ratio of 2.52 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The stock has a 50-day simple moving average of $59.20 and a two-hundred day simple moving average of $69.78.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $11.02 billion. During the same quarter last year, the company posted $0.98 EPS. The company's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date is Monday, June 2nd. NIKE's dividend payout ratio is presently 53.16%.

Insiders Place Their Bets

In related news, Director Robert Holmes Swan acquired 8,600 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was acquired at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now directly owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade 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. Insiders own 1.10% of the company's stock.

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.