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

Waterfront Wealth Inc. increased its holdings in NIKE, Inc. (NYSE:NKE) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,757 shares of the footwear maker’s stock after purchasing an additional 153 shares during the quarter. Waterfront Wealth Inc.’s holdings in NIKE were worth $814,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NKE shares. Truist Financial dropped their target price 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. Barclays dropped their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Telsey Advisory Group reissued a “market perform” rating and set a $80.00 target price on shares of NIKE in a research note on Wednesday. Evercore ISI decreased their target price on NIKE from $105.00 to $97.00 and set an “outperform” rating for the company in a report on Monday, December 16th. Finally, DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fifteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.62.

NIKE Stock Performance

Shares of NIKE stock opened at $76.50 on Friday. NIKE, Inc. has a 1 year low of $68.62 and a 1 year high of $106.62. The firm’s 50-day moving average is $74.31 and its 200 day moving average is $78.09. The stock 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. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. Sell-side analysts anticipate that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

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

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. bought 2,500 shares of the business’s stock in a transaction on Friday, December 27th. The stock was acquired at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the sale, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. This 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 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.