Waterfront Wealth Inc. Sells 245 Shares of NIKE, Inc. $NKE

Waterfront Wealth Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,786 shares of the footwear maker’s stock after selling 245 shares during the quarter. Waterfront Wealth Inc.’s holdings in NIKE were worth $766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in NIKE by 388.5% during the fourth quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker’s stock worth $15,316,000 after acquiring an additional 160,980 shares in the last quarter. Golden State Wealth Management LLC raised its stake in NIKE by 11.9% during the first quarter. Golden State Wealth Management LLC now owns 2,905 shares of the footwear maker’s stock worth $184,000 after acquiring an additional 310 shares in the last quarter. Koshinski Asset Management Inc. raised its stake in NIKE by 32.2% during the first quarter. Koshinski Asset Management Inc. now owns 8,833 shares of the footwear maker’s stock worth $561,000 after acquiring an additional 2,150 shares in the last quarter. Alta Advisers Ltd raised its stake in NIKE by 50.5% during the first quarter. Alta Advisers Ltd now owns 5,961 shares of the footwear maker’s stock worth $378,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Mather Group LLC. raised its stake in NIKE by 34.1% during the first quarter. Mather Group LLC. now owns 40,246 shares of the footwear maker’s stock worth $2,555,000 after acquiring an additional 10,234 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NKE shares. UBS Group set a $71.00 price objective on NIKE and gave the company a “neutral” rating in a research note on Friday, September 19th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $90.00 price objective on shares of NIKE in a research note on Monday, October 13th. DZ Bank raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, October 1st. Stifel Nicolaus set a $68.00 price objective on NIKE and gave the company a “hold” rating in a research note on Wednesday, October 1st. Finally, Cowen raised NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.21.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the transaction, the chairman directly owned 744,988 shares in the company, valued at approximately $56,566,938.84. This represents a 10.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $71.27, for a total value of $306,461.00. Following the transaction, the executive vice president owned 29,396 shares in the company, valued at $2,095,052.92. The trade was a 12.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.80% of the stock is currently owned by corporate insiders.

NIKE Stock Performance

Shares of NKE stock opened at $65.35 on Thursday. The business’s 50 day simple moving average is $71.79 and its 200 day simple moving average is $68.17. NIKE, Inc. has a one year low of $52.28 and a one year high of $82.44. The stock has a market capitalization of $96.59 billion, a PE ratio of 33.51, a PEG ratio of 2.48 and a beta of 1.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.19 and a quick ratio of 1.45.

NIKE (NYSE:NKE) last announced its earnings results on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. NIKE had a return on equity of 21.16% and a net margin of 6.23%.The business had revenue of $11.72 billion for the quarter, compared to analysts’ expectations of $10.96 billion. During the same period in the prior year, the business posted $0.70 earnings per share. The firm’s revenue was up 1.0% on a year-over-year basis. As a group, research analysts forecast that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, September 2nd. NIKE’s dividend payout ratio is presently 82.05%.

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.