NIKE, Inc. (NYSE:NKE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 13.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,606,470 shares of the footwear maker's stock after selling 243,336 shares during the period. Principal Financial Group Inc. owned about 0.11% of NIKE worth $121,562,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in NIKE by 6,029.6% during the 4th quarter. Pacer Advisors Inc. now owns 6,821,270 shares of the footwear maker's stock worth $516,166,000 after buying an additional 6,709,985 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in NIKE by 1,209,638.7% during the third quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker's stock worth $575,342,000 after purchasing an additional 6,507,856 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in NIKE by 358.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,015,267 shares of the footwear maker's stock worth $228,165,000 after purchasing an additional 2,357,745 shares during the last quarter. State Street Corp increased its stake in NIKE by 3.3% in the third 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. Finally, Holocene Advisors LP purchased a new position in NIKE in the third quarter valued at approximately $148,635,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

NIKE Stock Performance

NYSE NKE traded down $0.73 on Friday, hitting $76.50. 12,813,494 shares of the company's stock were exchanged, compared to its average volume of 13,223,615. The firm has a market cap of $113.15 billion, a price-to-earnings ratio of 23.61, a P/E/G ratio of 2.50 and a beta of 1.01. The firm's 50-day moving average price is $74.33 and its two-hundred day moving average price is $78.05. NIKE, Inc. has a fifty-two week low of $68.62 and a fifty-two week high of $106.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. NIKE's quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, research analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.09%. NIKE's dividend payout ratio is presently 49.38%.

Insider Activity at NIKE

In other news, Director John W. Rogers, Jr. acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the purchase, the director now directly owns 34,403 shares of the company's stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total value of $12,361,581.56. Following the transaction, the chairman now directly owns 896,632 shares of the company's stock, valued at approximately $65,301,708.56. This represents a 15.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI reduced their price objective on shares of NIKE from $105.00 to $97.00 and set an "outperform" rating for the company in a research report on Monday, December 16th. Robert W. Baird reduced their price target on shares of NIKE from $110.00 to $105.00 and set an "outperform" rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company dropped their price objective on NIKE from $95.00 to $92.00 and set an "overweight" rating on the stock in a report on Monday, December 16th. Truist Financial cut their target price on NIKE from $97.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday, December 20th. Finally, BMO Capital Markets upped their target price on NIKE from $92.00 to $95.00 and gave the company an "outperform" rating in a research report on Monday, February 3rd. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.62.

NIKE Company 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.