Principal Financial Group Inc. Sells 42,695 Shares of NIKE, Inc. (NYSE:NKE)

Principal Financial Group Inc. lessened its holdings in shares of NIKE, Inc. (NYSE:NKE) by 2.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,849,806 shares of the footwear maker’s stock after selling 42,695 shares during the period. Principal Financial Group Inc. owned 0.12% of NIKE worth $163,523,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in NKE. Teachers Insurance & Annuity Association of America acquired a new position in NIKE in the third quarter valued at about $30,000. VitalStone Financial LLC raised its stake in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker’s stock worth $38,000 after buying an additional 150 shares during the period. Dunhill Financial LLC lifted its holdings in NIKE by 52.2% during the third quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker’s stock worth $44,000 after acquiring an additional 169 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in NIKE in the second quarter valued at about $48,000. Finally, Ecofi Investissements SA acquired a new stake in shares of NIKE during the second quarter worth about $49,000. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NKE shares. Robert W. Baird lifted their price target on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Jefferies Financial Group upped their target price on shares of NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. dropped their price target on NIKE from $77.00 to $73.00 and set a “neutral” rating on the stock in a research note on Monday, December 2nd. Barclays reduced their price objective on NIKE from $81.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 11th. Finally, Truist Financial raised NIKE from a “hold” rating to a “buy” rating and lifted their target price for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, NIKE presently has an average rating of “Moderate Buy” and a consensus price target of $91.73.

NIKE Stock Up 0.3 %

NKE stock opened at $77.10 on Friday. The business’s 50 day simple moving average is $78.18 and its 200 day simple moving average is $80.77. NIKE, Inc. has a 1-year low of $70.75 and a 1-year high of $123.39. The firm has a market capitalization of $115.60 billion, a PE ratio of 22.09, a PEG ratio of 1.89 and a beta of 1.02. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion during the quarter, compared to the consensus estimate of $12.11 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the business posted $1.03 earnings per share. As a group, research analysts anticipate that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 45.85%.

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.