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

Principal Financial Group Inc. reduced its stake in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 2.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,849,806 shares of the footwear maker's stock after selling 42,695 shares during the quarter. Principal Financial Group Inc. owned 0.12% of NIKE worth $163,523,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Teachers Insurance & Annuity Association of America acquired a new stake in shares of NIKE during the third quarter valued at about $30,000. VitalStone Financial LLC grew its stake in NIKE by 52.6% during the 3rd quarter. VitalStone Financial LLC now owns 435 shares of the footwear maker's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Dunhill Financial LLC increased its holdings in NIKE by 52.2% during the 3rd quarter. Dunhill Financial LLC now owns 493 shares of the footwear maker's stock worth $44,000 after purchasing an additional 169 shares during the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of NIKE in the 2nd quarter valued at approximately $48,000. Finally, Ecofi Investissements SA purchased a new position in shares of NIKE during the 2nd quarter valued at approximately $49,000. 64.25% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on NKE. Guggenheim dropped their price target on shares of NIKE from $115.00 to $110.00 and set a "buy" rating for the company in a research note on Wednesday, October 2nd. Royal Bank of Canada dropped their target price on shares of NIKE from $82.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, November 7th. Robert W. Baird increased their price target on shares of NIKE from $100.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Bank of America lowered their price objective on NIKE from $95.00 to $90.00 and set a "buy" rating for the company in a report on Friday. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $80.00 target price on shares of NIKE in a report on Friday, September 20th. Fifteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.77.

NIKE Stock Performance

Shares of NYSE:NKE traded down $0.16 on Friday, hitting $76.94. The company's stock had a trading volume of 49,808,547 shares, compared to its average volume of 11,716,173. The company has a market capitalization of $115.36 billion, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE, Inc. has a 12 month low of $70.75 and a 12 month high of $123.30. The stock's 50-day moving average is $78.07 and its two-hundred day moving average is $80.65.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The business 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 company's quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.03 earnings per share. On average, equities research analysts forecast that NIKE, Inc. will post 2.72 EPS for the current year.

NIKE Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders 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 is a boost from NIKE's previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. NIKE's dividend payout ratio (DPR) is 45.85%.

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.