Chicago Capital LLC Raises Stock Holdings in NIKE, Inc. (NYSE:NKE)

Chicago Capital LLC boosted its stake in NIKE, Inc. (NYSE:NKE) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,869 shares of the footwear maker’s stock after purchasing an additional 1,000 shares during the quarter. Chicago Capital LLC’s holdings in NIKE were worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Czech National Bank lifted its holdings in shares of NIKE by 6.0% during the 3rd quarter. Czech National Bank now owns 244,750 shares of the footwear maker’s stock worth $21,636,000 after acquiring an additional 13,918 shares during the last quarter. Davis Investment Partners LLC purchased a new stake in NIKE during the third quarter valued at about $1,238,000. Everpar Advisors LLC bought a new stake in NIKE during the third quarter worth about $202,000. Smith Anglin Financial LLC boosted its holdings in shares of NIKE by 5.9% in the 3rd quarter. Smith Anglin Financial LLC now owns 8,402 shares of the footwear maker’s stock worth $743,000 after purchasing an additional 466 shares in the last quarter. Finally, Chemistry Wealth Management LLC bought a new position in shares of NIKE during the 3rd quarter valued at about $3,373,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Price Performance

NKE stock opened at $76.61 on Tuesday. NIKE, Inc. has a 52 week low of $70.32 and a 52 week high of $107.43. The firm has a market capitalization of $113.32 billion, a P/E ratio of 23.65, a price-to-earnings-growth ratio of 2.50 and a beta of 1.01. The company has a fifty day simple moving average of $75.60 and a two-hundred day simple moving average of $78.06. 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) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the company posted $1.03 EPS. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. Analysts anticipate that NIKE, Inc. will post 2.05 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were paid a $0.40 dividend. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. NIKE’s dividend payout ratio (DPR) is presently 49.38%.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent research reports. Evercore ISI dropped their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a research report on Monday, December 16th. Truist Financial lowered their price objective on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a report on Friday, December 20th. Morgan Stanley reduced their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of NIKE in a research note on Friday, December 20th. Finally, Wells Fargo & Company reduced their price objective on NIKE from $95.00 to $92.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Fourteen investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $89.77.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was purchased at an average price of $76.65 per share, with a total value of $191,625.00. Following the completion of the purchase, the director now owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

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.