Addenda Capital Inc. Buys 21,475 Shares of NIKE, Inc. (NYSE:NKE)

Addenda Capital Inc. raised its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 12.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,982 shares of the footwear maker's stock after acquiring an additional 21,475 shares during the period. Addenda Capital Inc.'s holdings in NIKE were worth $12,313,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares during the last quarter. Capital Investment Advisory Services LLC increased its stake in NIKE by 22.6% during the fourth quarter. Capital Investment Advisory Services LLC now owns 5,835 shares of the footwear maker's stock valued at $442,000 after acquiring an additional 1,077 shares during the period. SOL Capital Management CO raised its holdings in NIKE by 5.1% in the 4th quarter. SOL Capital Management CO now owns 6,071 shares of the footwear maker's stock valued at $459,000 after acquiring an additional 295 shares in the last quarter. Caprock Group LLC lifted its holdings in shares of NIKE by 21.5% during the 4th quarter. Caprock Group LLC now owns 23,712 shares of the footwear maker's stock worth $1,803,000 after acquiring an additional 4,191 shares during the period. Finally, GFS Advisors LLC raised its stake in shares of NIKE by 5.9% in the fourth quarter. GFS Advisors LLC now owns 171,931 shares of the footwear maker's stock worth $13,010,000 after acquiring an additional 9,618 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Insider Buying and Selling at NIKE

In related news, Director Robert Holmes Swan bought 8,600 shares of the business's stock in a transaction 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 transaction, the director now owns 31,983 shares in the company, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.

NIKE Stock Up 0.5%

Shares of NYSE NKE traded up $0.34 during trading on Thursday, reaching $63.11. The company had a trading volume of 5,609,631 shares, compared to its average volume of 15,012,540. The stock has a market cap of $93.35 billion, a PE ratio of 19.48, a P/E/G ratio of 2.52 and a beta of 1.23. The business's 50-day moving average is $58.92 and its 200 day moving average is $69.38. NIKE, Inc. has a 12-month low of $52.28 and a 12-month high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE - Get Free Report) last issued its earnings results on Thursday, March 20th. The footwear maker reported $0.54 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 business had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. During the same period last year, the business posted $0.98 EPS. The company's revenue was down 9.1% compared to the same quarter last year. As a group, equities analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

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 2.54%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 53.16%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Williams Trading dropped their price objective on NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Morgan Stanley cut their price objective on NIKE from $72.00 to $70.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $64.00 to $56.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Stifel Nicolaus dropped their price objective on shares of NIKE from $75.00 to $64.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Finally, The Goldman Sachs Group reduced their target price on shares of NIKE from $88.00 to $72.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Seventeen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and a consensus price target of $80.26.

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.