Mawer Investment Management Ltd. Sells 22,341 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Mawer Investment Management Ltd. reduced its stake in NIKE, Inc. by 1.6%, selling 22,341 shares, and now owns approximately 1,379,357 shares valued at $87.56 million.
• Analysts have mixed ratings on NIKE, with an average rating of "Moderate Buy" and a consensus price target of $78.22, following various upgrades and downgrades from major brokerages.
• NIKE recently announced a quarterly dividend of $0.40 per share, yielding 2.02%, with a payout ratio of 74.07%.

Mawer Investment Management Ltd. decreased its position in NIKE, Inc. (NYSE:NKE - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,379,357 shares of the footwear maker's stock after selling 22,341 shares during the period. Mawer Investment Management Ltd. owned approximately 0.09% of NIKE worth $87,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. N.E.W. Advisory Services LLC bought a new position in NIKE during the first quarter worth $37,000. Meeder Advisory Services Inc. increased its position in shares of NIKE by 2.0% during the first quarter. Meeder Advisory Services Inc. now owns 20,081 shares of the footwear maker's stock worth $1,275,000 after acquiring an additional 386 shares in the last quarter. Ironsides Asset Advisors LLC bought a new stake in shares of NIKE during the first quarter worth about $207,000. Physicians Financial Services Inc. raised its holdings in shares of NIKE by 17.3% in the first quarter. Physicians Financial Services Inc. now owns 16,127 shares of the footwear maker's stock valued at $1,024,000 after purchasing an additional 2,381 shares during the last quarter. Finally, Solidarity Wealth LLC raised its holdings in shares of NIKE by 11.5% in the first quarter. Solidarity Wealth LLC now owns 81,545 shares of the footwear maker's stock valued at $5,208,000 after purchasing an additional 8,386 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

NIKE Price Performance

Shares of NKE stock traded down $1.59 during trading hours on Wednesday, hitting $76.74. 14,581,237 shares of the company's stock were exchanged, compared to its average volume of 17,538,838. The company has a market capitalization of $113.34 billion, a PE ratio of 35.53, a PEG ratio of 2.91 and a beta of 1.25. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $90.62. The business's 50 day simple moving average is $67.47 and its 200-day simple moving average is $67.42. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company had revenue of $11.10 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the company posted $0.99 EPS. NIKE's revenue for the quarter was down 11.9% on a year-over-year basis. On average, equities research analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Monday, June 2nd. NIKE's payout ratio is 74.07%.

Insider Activity at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total value of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company's stock, valued at $60,894,276.69. The trade was a 11.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NKE has been the subject of several analyst reports. Argus upgraded shares of NIKE to a "buy" rating in a report on Sunday, July 6th. Jefferies Financial Group reiterated a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Stifel Nicolaus lowered their target price on shares of NIKE from $75.00 to $64.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Williams Trading lowered their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating for the company in a report on Monday, April 21st. Finally, Hsbc Global Res upgraded shares of NIKE from a "hold" rating to a "strong-buy" rating in a report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and a consensus price target of $78.22.

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.