TD Waterhouse Canada Cuts Nike Stake Amid Mixed Analyst Sentiment
Nike's $NKE stock has been a subject of interest for investors and analysts alike. Recent data from TD Waterhouse Canada Inc. reveals that the firm reduced its position in Nike shares by 23.8% in the second quarter, selling 122,197 shares during this period.
The total value of TD Waterhouse Canada Inc.'s holdings in NIKE was $16,835,000 as of its most recent filing with the Securities & Exchange Commission. This news comes amid mixed sentiment surrounding Nike's performance, with some analysts bullish on the stock's potential for growth and others expressing concerns about its valuation.
Nike has been working to turnaround its business, expanding its Strength Pro Equipment business through customizable Power Rack systems installed at prominent athletic facilities. However, some investment coverage suggests that the company may still face challenges in stabilizing margins and improving profitability.