Conning Inc. Acquires 11,463 Shares of NIKE, Inc. $NKE

Conning Inc. grew its holdings in shares of NIKE, Inc. (NYSE:NKE) by 18.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,989 shares of the footwear maker’s stock after buying an additional 11,463 shares during the quarter. Conning Inc.’s holdings in NIKE were worth $3,961,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NKE. Main Street Financial Solutions LLC grew its position in NIKE by 4.2% in the second quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares in the last quarter. Diligent Investors LLC raised its position in NIKE by 4.3% during the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares during the period. Massachusetts Financial Services Co. MA raised its position in NIKE by 4.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 163 shares during the period. Lakeshore Capital Group Inc. raised its position in NIKE by 2.9% during the fourth quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock valued at $374,000 after purchasing an additional 165 shares during the period. Finally, ANB Bank lifted its stake in shares of NIKE by 0.7% in the 4th quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock valued at $1,621,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, EVP Philip Mccartney sold 17,398 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $46.18, for a total value of $803,439.64. Following the sale, the executive vice president owned 53,133 shares in the company, valued at $2,453,681.94. This trade represents a 24.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Elliott Hill bought 23,660 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were acquired at an average price of $42.27 per share, with a total value of $1,000,108.20. Following the completion of the transaction, the chief executive officer owned 265,247 shares of the company’s stock, valued at approximately $11,211,990.69. The trade was a 9.79% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NKE. Jefferies Financial Group cut their target price on NIKE from $90.00 to $75.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Barclays lowered their price target on NIKE from $67.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, July 1st. Oppenheimer dropped their price objective on shares of NIKE to $60.00 and set an “outperform” rating for the company in a research note on Friday, June 26th. Robert W. Baird reiterated an “outperform” rating and set a $70.00 price objective on shares of NIKE in a research report on Wednesday, July 1st. Finally, Williams Trading cut their price objective on shares of NIKE from $80.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Thirteen analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Hold” and an average price target of $54.80.

NIKE Stock Up 3.8%

Shares of NYSE:NKE opened at $44.39 on Friday. The firm has a market capitalization of $65.73 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.47 and a beta of 1.12. The business has a 50 day simple moving average of $43.71 and a two-hundred day simple moving average of $52.40. NIKE, Inc. has a 1 year low of $40.00 and a 1 year high of $80.17. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.96 and a quick ratio of 1.36.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.09. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. During the same period in the prior year, the business posted $0.14 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts predict that NIKE, Inc. will post 1.76 EPS for the current year.

NIKE Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, June 1st. NIKE’s dividend payout ratio is 78.47%.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).