NIKE, Inc. $NKE Shares Sold by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. reduced its stake in NIKE, Inc. (NYSE:NKE) by 12.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,209,399 shares of the footwear maker’s stock after selling 169,958 shares during the period. Mawer Investment Management Ltd. owned approximately 0.08% of NIKE worth $85,916,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NKE. Banco Santander S.A. lifted its holdings in NIKE by 28.3% during the 2nd quarter. Banco Santander S.A. now owns 221,117 shares of the footwear maker’s stock worth $15,708,000 after buying an additional 48,764 shares during the last quarter. Soltis Investment Advisors LLC increased its holdings in shares of NIKE by 238.8% in the 2nd quarter. Soltis Investment Advisors LLC now owns 141,356 shares of the footwear maker’s stock valued at $10,042,000 after acquiring an additional 99,638 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NIKE by 0.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker’s stock valued at $69,932,000 after acquiring an additional 5,601 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new position in NIKE during the first quarter worth $25,963,000. Finally, BROOKFIELD Corp ON boosted its holdings in NIKE by 36.2% in the first quarter. BROOKFIELD Corp ON now owns 658,598 shares of the footwear maker’s stock worth $41,808,000 after purchasing an additional 175,000 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insider Buying and Selling

In other NIKE news, EVP Treasure Heinle sold 4,300 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $71.27, for a total value of $306,461.00. Following the sale, the executive vice president directly owned 29,396 shares in the company, valued at approximately $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the transaction, the chairman directly owned 744,988 shares in the company, valued at $56,566,938.84. This represents a 10.36% decrease in their position. The SEC filing for this sale provides additional information. 0.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NKE. DZ Bank raised shares of NIKE from a “hold” rating to a “buy” rating in a report on Wednesday, October 1st. Sanford C. Bernstein restated a “buy” rating and set a $90.00 price objective on shares of NIKE in a research report on Monday, October 13th. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 target price on shares of NIKE in a research note on Monday, September 29th. UBS Group set a $71.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a report on Friday, September 19th. Finally, Piper Sandler set a $84.00 target price on shares of NIKE and gave the company an “overweight” rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $82.21.

NIKE Stock Down 0.5%

NIKE stock opened at $60.77 on Tuesday. NIKE, Inc. has a 52 week low of $52.28 and a 52 week high of $82.44. The stock has a market cap of $89.83 billion, a price-to-earnings ratio of 31.16, a PEG ratio of 2.41 and a beta of 1.29. The company’s 50-day moving average price is $69.31 and its two-hundred day moving average price is $68.62. The company has a current ratio of 2.19, a quick ratio of 1.45 and a debt-to-equity ratio of 0.59.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.22. The business had revenue of $11.72 billion for the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.16%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.70 earnings per share. On average, analysts expect that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

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.