Conway Capital Management Inc. Has $442,000 Stock Holdings in NIKE, Inc. (NYSE:NKE)

Conway Capital Management Inc. reduced its stake in NIKE, Inc. (NYSE:NKE) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,847 shares of the footwear maker’s stock after selling 250 shares during the period. Conway Capital Management Inc.’s holdings in NIKE were worth $442,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp boosted its stake in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock valued at $5,140,796,000 after purchasing an additional 1,862,021 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of NIKE by 5.1% in the third quarter. Wellington Management Group LLP now owns 27,442,145 shares of the footwear maker’s stock valued at $2,425,886,000 after purchasing an additional 1,343,093 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NIKE by 1.0% during the third quarter. Geode Capital Management LLC now owns 25,029,380 shares of the footwear maker’s stock valued at $2,204,451,000 after buying an additional 251,411 shares during the last quarter. Legal & General Group Plc grew its holdings in NIKE by 5.5% during the second quarter. Legal & General Group Plc now owns 11,049,294 shares of the footwear maker’s stock worth $832,785,000 after buying an additional 571,544 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in NIKE by 6.0% in the 3rd quarter. Fisher Asset Management LLC now owns 10,303,182 shares of the footwear maker’s stock valued at $910,801,000 after buying an additional 583,207 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Stock Up 0.5 %

Shares of NKE opened at $74.44 on Friday. The stock has a 50 day simple moving average of $75.54 and a two-hundred day simple moving average of $77.88. NIKE, Inc. has a 1 year low of $70.32 and a 1 year high of $107.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market cap of $110.10 billion, a P/E ratio of 22.97, a P/E/G ratio of 2.36 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. On average, analysts forecast that NIKE, Inc. will post 2.1 earnings per share for the current fiscal year.

NIKE Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.40 per share. This is a positive change from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. NIKE’s dividend payout ratio is presently 49.38%.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were acquired at an average price of $76.65 per share, for a total transaction of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares in the company, valued at approximately $2,636,989.95. The trade was a 7.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. TD Cowen dropped their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating on the stock in a research note on Monday, November 18th. Telsey Advisory Group lowered NIKE from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $93.00 to $80.00 in a report on Friday, December 20th. Stifel Nicolaus lowered their target price on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Finally, DA Davidson raised shares of NIKE to a “strong-buy” rating in a report on Monday, December 23rd. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.96.

About NIKE

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.