Addenda Capital Inc. Raises Holdings in NIKE, Inc. (NYSE:NKE)

Addenda Capital Inc. lifted its stake in NIKE, Inc. (NYSE:NKE) by 11.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,507 shares of the footwear maker’s stock after purchasing an additional 17,824 shares during the period. Addenda Capital Inc.’s holdings in NIKE were worth $13,040,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NKE. Pacer Advisors Inc. boosted its position in shares of NIKE by 9.6% during the second quarter. Pacer Advisors Inc. now owns 107,821 shares of the footwear maker’s stock worth $8,126,000 after buying an additional 9,471 shares during the period. Westwood Holdings Group Inc. bought a new stake in NIKE in the 2nd quarter valued at $231,000. ProShare Advisors LLC grew its position in NIKE by 2.0% in the second quarter. ProShare Advisors LLC now owns 272,650 shares of the footwear maker’s stock valued at $20,550,000 after acquiring an additional 5,424 shares during the period. Frank Rimerman Advisors LLC boosted its holdings in NIKE by 4,942.1% in the second quarter. Frank Rimerman Advisors LLC now owns 15,227 shares of the footwear maker’s stock valued at $1,148,000 after acquiring an additional 14,925 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new position in shares of NIKE during the 2nd quarter valued at about $674,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

Insiders Place Their Bets

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Robert W. Baird decreased their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Monday, December 23rd. Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Wells Fargo & Company dropped their target price on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a report on Monday, December 16th. TD Cowen cut their price objective on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a report on Monday, November 18th. Finally, Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.96.

NIKE Trading Down 0.3 %

NYSE NKE opened at $70.89 on Tuesday. The stock’s 50 day moving average is $75.77 and its 200 day moving average is $77.95. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $104.85 billion, a PE ratio of 21.88, a P/E/G ratio of 2.25 and a beta of 1.02. NIKE, Inc. has a twelve month low of $70.32 and a twelve month high of $107.43.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. Research analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is 49.38%.

NIKE 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.