Chemung Canal Trust Co. grew its position in shares of NIKE, Inc. (NYSE:NKE) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,487 shares of the footwear maker’s stock after purchasing an additional 3,518 shares during the period. Chemung Canal Trust Co.’s holdings in NIKE were worth $4,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Adams Wealth Management acquired a new stake in shares of NIKE in the third quarter valued at $28,000. Sound Income Strategies LLC raised its stake in shares of NIKE by 163.8% in the third quarter. Sound Income Strategies LLC now owns 248 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 154 shares in the last quarter. Planned Solutions Inc. acquired a new stake in shares of NIKE in the third quarter valued at $32,000. Newfound Research LLC acquired a new stake in shares of NIKE in the third quarter valued at $32,000. Finally, Bainco International Investors acquired a new stake in shares of NIKE in the fourth quarter valued at $56,000. Institutional investors and hedge funds own 55.61% of the company’s stock.

Shares of NKE stock traded down $2.01 during midday trading on Wednesday, reaching $143.04. 3,212,191 shares of the company traded hands, compared to its average volume of 4,610,482. The firm’s 50 day simple moving average is $139.88 and its two-hundred day simple moving average is $120.86. NIKE, Inc. has a 1-year low of $60.00 and a 1-year high of $147.95. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.55 and a quick ratio of 1.77. The firm has a market cap of $224.55 billion, a PE ratio of 85.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.84.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 17th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.15. NIKE had a net margin of 7.20% and a return on equity of 34.62%. The company had revenue of $11.24 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same period last year, the firm earned $0.70 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, research analysts anticipate that NIKE, Inc. will post 2.85 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 29th. Stockholders of record on Monday, December 7th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from NIKE’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, December 4th. NIKE’s dividend payout ratio (DPR) is presently 59.46%.

In related news, EVP Monique S. Matheson sold 28,500 shares of NIKE stock in a transaction that occurred on Monday, December 28th. The stock was sold at an average price of $142.54, for a total transaction of $4,062,390.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy D. Cook sold 52,000 shares of NIKE stock in a transaction that occurred on Monday, November 30th. The stock was sold at an average price of $133.91, for a total value of $6,963,320.00. Following the transaction, the director now owns 55,433 shares of the company’s stock, valued at $7,423,033.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 450,170 shares of company stock valued at $63,160,981. Insiders own 3.80% of the company’s stock.

Several research firms recently commented on NKE. Raymond James increased their target price on NIKE from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Monday, December 21st. JPMorgan Chase & Co. set a $170.00 target price on NIKE and gave the company a “buy” rating in a report on Monday, January 4th. Wells Fargo & Company increased their target price on NIKE from $146.00 to $157.00 and gave the company an “overweight” rating in a report on Monday, December 21st. Wedbush raised their price objective on NIKE from $142.00 to $152.00 and gave the stock an “outperform” rating in a report on Friday, December 11th. Finally, Needham & Company LLC raised their price objective on NIKE from $149.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, December 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $153.85.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories, including running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, golf, lacrosse, skateboarding, tennis, volleyball, walking, wrestling, and other outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Institutional Ownership by Quarter for NIKE (NYSE:NKE)

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