Conning Inc. Has $3.67 Million Position in Nike Inc (NKE)
Conning Inc. cut its position in Nike Inc (NYSE:NKE) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 58,682 shares of the footwear maker’s stock after selling 810 shares during the period. Conning Inc.’s holdings in Nike were worth $3,671,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Field & Main Bank acquired a new stake in Nike during the 4th quarter valued at $100,000. Willingdon Wealth Management acquired a new stake in Nike during the 3rd quarter valued at $114,000. Atlantic Trust LLC acquired a new stake in Nike during the 2nd quarter valued at $136,000. Howe & Rusling Inc. lifted its holdings in shares of Nike by 751.3% during the third quarter. Howe & Rusling Inc. now owns 2,639 shares of the footwear maker’s stock worth $137,000 after buying an additional 2,329 shares in the last quarter. Finally, Horan Capital Advisors LLC. acquired a new stake in shares of Nike during the third quarter worth $161,000. 62.65% of the stock is owned by institutional investors and hedge funds.
NKE has been the subject of a number of research reports. Goldman Sachs Group downgraded Nike from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $52.30 to $54.00 in a report on Thursday, October 19th. Vetr raised Nike from a “hold” rating to a “buy” rating and set a $58.95 target price for the company in a report on Monday, October 30th. Argus raised Nike from a “hold” rating to a “buy” rating and lifted their target price for the stock from $50.35 to $64.46 in a report on Thursday, December 14th. Forward View raised Nike from a “sell” rating to a “hold” rating in a report on Sunday, October 29th. Finally, Buckingham Research set a $71.00 target price on Nike and gave the stock a “buy” rating in a report on Monday, December 25th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-three have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $65.37.
Nike (NYSE:NKE) last released its earnings results on Thursday, December 21st. The footwear maker reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Nike had a return on equity of 31.64% and a net margin of 11.13%. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.39 billion. During the same quarter in the previous year, the business posted $0.50 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts forecast that Nike Inc will post 2.26 EPS for the current year.
In other news, EVP John F. Slusher sold 125,722 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $63.17, for a total transaction of $7,941,858.74. Following the sale, the executive vice president now directly owns 268,169 shares in the company, valued at $16,940,235.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric D. Sprunk sold 100,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $67.66, for a total value of $6,766,000.00. Following the sale, the insider now owns 227,199 shares in the company, valued at $15,372,284.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 932,896 shares of company stock worth $59,594,217. Company insiders own 3.90% of the company’s stock.
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NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.
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