Conning Inc. Has $3.38 Million Stake in NIKE, Inc. (NYSE:NKE)

Conning Inc. lowered its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 21.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,199 shares of the footwear maker's stock after selling 14,464 shares during the quarter. Conning Inc.'s holdings in NIKE were worth $3,377,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in NKE. Brighton Jones LLC raised its stake in shares of NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after buying an additional 160,980 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of NIKE by 10.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 190,915 shares of the footwear maker's stock worth $14,447,000 after buying an additional 17,888 shares in the last quarter. Schechter Investment Advisors LLC raised its stake in shares of NIKE by 111.3% in the 4th quarter. Schechter Investment Advisors LLC now owns 5,769 shares of the footwear maker's stock worth $437,000 after buying an additional 3,039 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of NIKE by 16.0% in the 4th quarter. Victory Capital Management Inc. now owns 868,260 shares of the footwear maker's stock worth $65,701,000 after buying an additional 119,874 shares in the last quarter. Finally, Assetmark Inc. raised its stake in shares of NIKE by 22.3% in the 4th quarter. Assetmark Inc. now owns 105,156 shares of the footwear maker's stock worth $7,957,000 after buying an additional 19,151 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

Analyst Upgrades and Downgrades

NKE has been the topic of a number of research reports. Citigroup boosted their price objective on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Wells Fargo & Company boosted their target price on NIKE from $55.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. BMO Capital Markets cut their target price on NIKE from $95.00 to $92.00 and set an "outperform" rating on the stock in a research report on Friday, March 21st. Royal Bank Of Canada cut their target price on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 20th. Finally, Cfra Research upgraded NIKE to a "moderate buy" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.19.

NIKE Stock Performance

NKE traded down $0.11 during midday trading on Friday, reaching $76.28. The company's stock had a trading volume of 12,022,568 shares, compared to its average volume of 15,372,369. The stock has a market cap of $112.83 billion, a P/E ratio of 35.31, a PEG ratio of 2.77 and a beta of 1.25. The company has a fifty day simple moving average of $61.99 and a 200 day simple moving average of $67.50. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The company's revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 EPS. Research analysts expect that NIKE, Inc. will post 2.05 earnings per share for the current year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Monday, June 2nd. NIKE's payout ratio is presently 74.07%.

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.