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

Waterfront Wealth Inc. reduced its position in NIKE, Inc. (NYSE:NKE) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,786 shares of the footwear maker’s stock after selling 245 shares during the period. Waterfront Wealth Inc.’s holdings in NIKE were worth $766,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Mascoma Wealth Management LLC bought a new position in shares of NIKE in the 2nd quarter worth $26,000. Stone House Investment Management LLC bought a new position in shares of NIKE in the 1st quarter worth $25,000. Halbert Hargrove Global Advisors LLC lifted its holdings in shares of NIKE by 952.6% in the 2nd quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares in the last quarter. Matrix Trust Co lifted its holdings in shares of NIKE by 53.1% in the 2nd quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock worth $31,000 after purchasing an additional 153 shares in the last quarter. Finally, Saudi Central Bank bought a new position in shares of NIKE in the 1st quarter worth $30,000. 64.25% of the stock is currently owned by institutional investors.

NIKE Trading Down 3.1%

Shares of NIKE stock opened at $65.35 on Thursday. NIKE, Inc. has a 1 year low of $52.28 and a 1 year high of $82.44. The firm has a market cap of $96.59 billion, a PE ratio of 33.51, a P/E/G ratio of 2.48 and a beta of 1.29. The stock has a fifty day moving average price of $71.79 and a 200-day moving average price of $68.17. 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 earnings per share (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 firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. During the same period last year, the firm posted $0.70 EPS. The business’s revenue was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.4%. NIKE’s dividend payout ratio (DPR) is currently 82.05%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $115.00 target price on shares of NIKE in a report on Monday, September 29th. Wall Street Zen raised NIKE from a “sell” rating to a “hold” rating in a research report on Saturday, September 6th. Citigroup raised NIKE from a “neutral” rating to a “positive” rating in a research report on Friday, September 19th. UBS Group set a $71.00 price target on NIKE and gave the company a “neutral” rating in a research report on Friday, September 19th. Finally, The Goldman Sachs Group set a $85.00 price target on NIKE and gave the company a “buy” rating in a research report on Thursday, September 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.21.

Insider Buying and Selling at NIKE

In other news, Chairman Mark G. Parker sold 86,078 shares of the stock in a transaction 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 completion of the transaction, the chairman 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Treasure Heinle sold 4,300 shares of the stock in a transaction 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 of the company’s stock, valued at $2,095,052.92. The trade was a 12.76% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.80% of the company’s stock.

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.