Hudson Canyon Capital Management Buys 3,350 Shares of NIKE, Inc. (NYSE:NKE)

Hudson Canyon Capital Management increased its stake in shares of NIKE, Inc. (NYSE:NKE) by 16.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,200 shares of the footwear maker’s stock after buying an additional 3,350 shares during the quarter. Hudson Canyon Capital Management’s holdings in NIKE were worth $1,536,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of NKE. Heck Capital Advisors LLC bought a new position in NIKE in the 4th quarter worth about $28,000. EnRich Financial Partners LLC increased its position in shares of NIKE by 196.4% during the 4th quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock valued at $31,000 after purchasing an additional 273 shares during the last quarter. Putney Financial Group LLC bought a new position in shares of NIKE during the 4th quarter valued at about $40,000. Minot DeBlois Advisors LLC bought a new stake in NIKE in the fourth quarter valued at approximately $42,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of NIKE in the first quarter worth approximately $37,000. Institutional investors own 64.25% of the company’s stock.

Analysts Set New Price Targets

NKE has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded NIKE from a “hold” rating to a “strong-buy” rating in a research report on Friday, June 27th. The Goldman Sachs Group raised their target price on NIKE from $72.00 to $81.00 and gave the company a “buy” rating in a research note on Friday, June 27th. Williams Trading lowered their target price on NIKE from $93.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, April 21st. Evercore ISI lowered their target price on NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada lowered their price objective on NIKE from $66.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.22.

NIKE Trading Down 1.6%

NKE opened at $74.28 on Friday. NIKE, Inc. has a 1-year low of $52.28 and a 1-year high of $90.62. The firm has a 50-day moving average price of $69.43 and a two-hundred day moving average price of $67.63. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $109.71 billion, a PE ratio of 34.39, a PEG ratio of 2.74 and a beta of 1.27.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. NIKE’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 EPS. As a group, equities analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.2%. NIKE’s dividend payout ratio (DPR) is currently 74.07%.

Insider Transactions at NIKE

In related news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman directly owned 842,361 shares of the company’s stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.80% of the company’s stock.

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.