Mackenzie Financial Corp increased its position in Nike, Inc. (NYSE:NKE) by 36.1% during the third quarter, Holdings Channel reports. The firm owned 3,821,484 shares of the footwear maker’s stock after buying an additional 1,013,598 shares during the period. Nike makes up about 1.3% of Mackenzie Financial Corp’s portfolio, making the stock its 16th largest position. Mackenzie Financial Corp owned 0.23% of Nike worth $201,201,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in Nike during the third quarter worth $130,000. Bank Hapoalim BM acquired a new position in shares of Nike during the third quarter valued at approximately $137,000. CWM LLC raised its position in shares of Nike by 18.1% in the third quarter. CWM LLC now owns 2,631 shares of the footwear maker’s stock valued at $139,000 after buying an additional 404 shares during the period. Argentus Capital Management LLC raised its position in shares of Nike by 13.6% in the third quarter. Argentus Capital Management LLC now owns 2,753 shares of the footwear maker’s stock valued at $145,000 after buying an additional 329 shares during the period. Finally, Nelson Roberts Investment Advisors LLC raised its position in shares of Nike by 83.1% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 2,776 shares of the footwear maker’s stock valued at $146,000 after buying an additional 1,260 shares during the period. 62.98% of the stock is currently owned by institutional investors.
Shares of Nike, Inc. (NYSE:NKE) traded up 2.03% on Wednesday, hitting $53.88. The company’s stock had a trading volume of 9,281,071 shares. The stock’s 50 day moving average price is $52.76 and its 200 day moving average price is $53.40. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $65.44. The stock has a market capitalization of $89.14 billion, a P/E ratio of 23.76 and a beta of 0.44.
Nike (NYSE:NKE) last announced its earnings results on Tuesday, December 20th. The footwear maker reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.07. Nike had a net margin of 11.60% and a return on equity of 31.70%. The company had revenue of $8.20 billion for the quarter. During the same period last year, the firm earned $0.90 earnings per share. Nike’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, analysts forecast that Nike, Inc. will post $2.34 earnings per share for the current fiscal year.
Several equities analysts have recently commented on the company. Forward View assumed coverage on Nike in a research note on Friday, January 27th. They issued a “hold” rating and a $55.00 price target on the stock. CLSA began coverage on Nike in a research note on Thursday, January 19th. They set an “underperform” rating and a $55.00 target price on the stock. Atlantic Securities began coverage on Nike in a research note on Thursday, January 19th. They set an “overweight” rating and a $65.00 target price on the stock. HSBC Holdings plc set a $64.00 target price on Nike and gave the stock a “buy” rating in a research note on Wednesday, January 11th. Finally, Robert W. Baird reissued an “outperform” rating and set a $67.00 target price on shares of Nike in a research note on Wednesday, January 11th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $62.05.
In other Nike news, EVP John F. Slusher sold 136,000 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $52.13, for a total transaction of $7,089,680.00. Following the sale, the executive vice president now directly owns 225,165 shares of the company’s stock, valued at approximately $11,737,851.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David J. Ayre sold 200,000 shares of the business’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $52.39, for a total transaction of $10,478,000.00. Following the sale, the executive vice president now directly owns 357,713 shares in the company, valued at $18,740,584.07. The disclosure for this sale can be found here. Over the last three months, insiders have sold 636,000 shares of company stock worth $33,477,680. Company insiders own 3.90% of the company’s stock.
Nike Company Profile
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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