Is NIKE (NKE) Showing Signs of Market Recovery?

Mawer Investment Management, an investment management firm, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The equity funds of the firm delivered positive returns in the fourth quarter. Its International Equity Fund returned 12.6% compared to a 12.7% return for the International Equity Benchmark, U.S. Equity Fund returned 8.7% compared to a 6.1% return for the S&P 500 Index (TR), U.S. Mid Cap Equity Fund returned 7.0% compared to a 7.7% return for the Russell Midcap Index (TR), Global Equity Fund returned 8.6% compared to a 8.2% return for the Global Equity Benchmark, and Global Small Cap Fund returned 11.1% compared to an 8.9% return for the Global Small Cap Benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022

Mawer Investment Management highlighted stocks like NIKE, Inc. (NYSE:NKE) in the fourth quarter investor letter. Headquartered in Beaverton, Oregon, NIKE, Inc. (NYSE:NKE) is a global company that designs, manufactures, and markets athletic shoe apparel, equipment and accessories. On January 12, 2023, NIKE, Inc. (NYSE:NKE) stock closed at $127.89 per share. One-month return of NIKE, Inc. (NYSE:NKE) was 17.86%, and its shares lost 14.51% of their value over the last 52 weeks. NIKE, Inc. (NYSE:NKE) has a market capitalization of $198.301 billion.

Mawer Investment Management made the following comment about NIKE, Inc. (NYSE:NKE) in its Q4 2022 investor letter:

“Reflecting the broad nature of the market’s advance during the quarter, the vast majority of portfolio holdings delivered positive returns. Some of the stronger performers across our equity funds were those that could be classified as more economically sensitive in nature, bolstered by the market’s hope that central banks may not need to be as aggressive as feared in tightening monetary policy with the latest inflation prints having shown signs of moderation. This included companies such as footwear and apparel brand NIKE, Inc. (NYSE:NKE), coffee machine manufacturer De’Longhi, and industrial equipment dealer Finning International.”

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NIKE, Inc. (NYSE:NKE) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. Per our database, 70 hedge fund portfolios held NIKE, Inc. (NYSE:NKE) at the end of the third quarter, and 72 in the previous quarter.

We discussed NIKE, Inc. (NYSE:NKE) in another article and shared the list of Dow stocks and their rank according to the 2022 hedge fund bullishness index. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.