Chemistry Wealth Management LLC Acquires 1,539 Shares of NIKE, Inc. (NYSE:NKE)

Chemistry Wealth Management LLC raised its holdings in shares of NIKE, Inc. (NYSE:NKE) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,692 shares of the footwear maker’s stock after purchasing an additional 1,539 shares during the quarter. NIKE accounts for about 0.7% of Chemistry Wealth Management LLC’s portfolio, making the stock its 25th largest position. Chemistry Wealth Management LLC’s holdings in NIKE were worth $3,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NKE. State Street Corp raised its stake in shares of NIKE by 3.3% in the third quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after acquiring an additional 1,862,021 shares during the period. Wellington Management Group LLP grew its holdings in NIKE by 5.1% during the 3rd quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares during the last quarter. Geode Capital Management LLC raised its position in NIKE by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock worth $2,204,451,000 after purchasing an additional 251,411 shares during the period. Legal & General Group Plc lifted its stake in NIKE by 5.5% in the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after purchasing an additional 571,544 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of NIKE by 6.0% during the third quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. DA Davidson upgraded NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Morgan Stanley reduced their target price on NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Telsey Advisory Group lowered shares of NIKE from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $93.00 to $80.00 in a research note on Friday, December 20th. TD Cowen reduced their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Finally, Bank of America lowered their price objective on shares of NIKE from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Fourteen analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NIKE has a consensus rating of “Moderate Buy” and an average target price of $89.96.

NIKE Trading Down 0.3 %

Shares of NIKE stock opened at $70.89 on Friday. The firm has a market capitalization of $104.85 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 2.26 and a beta of 1.02. NIKE, Inc. has a fifty-two week low of $70.32 and a fifty-two week high of $107.43. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22. The stock has a 50 day moving average of $75.87 and a 200 day moving average of $77.96.

NIKE (NYSE:NKE) last released 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. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the firm earned $1.03 earnings per share. The firm’s revenue was down 7.7% compared to the same quarter last year. As a group, research analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

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

NIKE Company 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.