Chemistry Wealth Management LLC Grows Holdings in NIKE, Inc. (NYSE:NKE)

Chemistry Wealth Management LLC increased its holdings in NIKE, Inc. (NYSE:NKE) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,692 shares of the footwear maker’s stock after acquiring an additional 1,539 shares during the quarter. NIKE comprises about 0.7% of Chemistry Wealth Management LLC’s investment portfolio, making the stock its 25th biggest holding. Chemistry Wealth Management LLC’s holdings in NIKE were worth $3,003,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Teachers Insurance & Annuity Association of America purchased a new position in shares of NIKE during the third quarter valued at approximately $30,000. VitalStone Financial LLC raised its stake in NIKE by 52.6% during the third quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Dunhill Financial LLC boosted its holdings in NIKE by 52.2% in the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares in the last quarter. Ecofi Investissements SA purchased a new stake in shares of NIKE in the second quarter worth $49,000. Finally, Riverview Trust Co bought a new position in shares of NIKE during the third quarter valued at $52,000. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Down 0.3 %

NYSE NKE opened at $70.89 on Friday. The stock’s 50-day moving average price is $75.87 and its 200-day moving average price is $77.96. The company has a market capitalization of $104.85 billion, a P/E ratio of 21.88, a price-to-earnings-growth ratio of 2.26 and a beta of 1.02. 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, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43.

NIKE (NYSE:NKE) last released its 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 net margin of 9.98% and a return on equity of 36.99%. The firm’s revenue was down 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.03 EPS. On average, equities research analysts predict that NIKE, Inc. will post 2.1 earnings per share for the current year.

NIKE Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Guggenheim cut their price objective on shares of NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Barclays reduced their price target on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Bank of America lowered their price objective on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Stifel Nicolaus cut their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Finally, Telsey Advisory Group cut NIKE from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $93.00 to $80.00 in a research note on Friday, December 20th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.96.

Insiders Place Their Bets

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 stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.10% of the stock is currently owned by company insiders.

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.