Waterfront Wealth Inc. Acquires 153 Shares of NIKE, Inc. (NYSE:NKE)

Waterfront Wealth Inc. grew its holdings in NIKE, Inc. (NYSE:NKE) by 1.4% during the 4th quarter, Holdings Channel reports. The fund owned 10,757 shares of the footwear maker’s stock after buying an additional 153 shares during the period. Waterfront Wealth Inc.’s holdings in NIKE were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NKE. Cromwell Holdings LLC increased its stake in shares of NIKE by 11.3% in the 4th quarter. Cromwell Holdings LLC now owns 3,198 shares of the footwear maker’s stock worth $242,000 after purchasing an additional 325 shares in the last quarter. Mattern Capital Management LLC grew its holdings in NIKE by 16.7% during the fourth quarter. Mattern Capital Management LLC now owns 106,170 shares of the footwear maker’s stock valued at $8,034,000 after purchasing an additional 15,178 shares during the period. Flossbach Von Storch SE increased its position in NIKE by 1.0% in the fourth quarter. Flossbach Von Storch SE now owns 8,298,072 shares of the footwear maker’s stock worth $627,915,000 after buying an additional 85,695 shares in the last quarter. Hardy Reed LLC bought a new position in shares of NIKE in the fourth quarter worth about $248,000. Finally, Meitav Investment House Ltd. lifted its position in shares of NIKE by 10.0% during the 4th quarter. Meitav Investment House Ltd. now owns 595,060 shares of the footwear maker’s stock valued at $45,001,000 after buying an additional 54,095 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now owns 34,403 shares in the company, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the sale, the chairman now directly owns 896,632 shares in the company, valued at $65,301,708.56. This trade represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

NIKE Stock Down 0.9 %

Shares of NYSE:NKE opened at $76.50 on Friday. The company has a market cap of $113.15 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.50 and a beta of 1.01. NIKE, Inc. has a 12 month low of $68.62 and a 12 month high of $106.62. The company has a current ratio of 2.22, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $74.31 and a 200 day moving average price of $78.09.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.15. The business had revenue of $12.35 billion during the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the company earned $1.03 EPS. As a group, equities research analysts predict that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, March 3rd. NIKE’s payout ratio is 49.38%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays reduced their target price on shares of NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their price objective on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research report on Monday, December 2nd. Stifel Nicolaus lowered their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. TD Cowen cut their price target on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Finally, Robert W. Baird lowered their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $88.62.

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.