Principal Financial Group Inc. Has $163.52 Million Stake in NIKE, Inc. (NYSE:NKE)

Principal Financial Group Inc. lessened its holdings in NIKE, Inc. (NYSE:NKE) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,849,806 shares of the footwear maker’s stock after selling 42,695 shares during the quarter. Principal Financial Group Inc.’s holdings in NIKE were worth $163,523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Loomis Sayles & Co. L P grew its position in NIKE by 1,209,638.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,508,394 shares of the footwear maker’s stock worth $575,342,000 after acquiring an additional 6,507,856 shares during the last quarter. State Street Corp boosted its position in NIKE by 3.3% during the 3rd quarter. State Street Corp now owns 57,916,789 shares of the footwear maker’s stock worth $5,140,796,000 after buying an additional 1,862,021 shares during the period. Holocene Advisors LP bought a new stake in NIKE during the 3rd quarter worth approximately $148,635,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in NIKE in the 3rd quarter valued at approximately $144,927,000. Finally, Renaissance Technologies LLC raised its stake in shares of NIKE by 351.7% during the second quarter. Renaissance Technologies LLC now owns 1,991,519 shares of the footwear maker’s stock valued at $150,101,000 after acquiring an additional 1,550,611 shares during the last quarter. Institutional investors own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

NKE has been the topic of several analyst reports. Royal Bank of Canada reduced their price objective on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their price target on NIKE from $92.00 to $82.00 and set a “buy” rating on the stock in a research report on Monday. Piper Sandler restated a “neutral” rating and set a $80.00 price objective on shares of NIKE in a research report on Friday, September 20th. Sanford C. Bernstein reduced their target price on NIKE from $112.00 to $109.00 and set an “outperform” rating on the stock in a report on Thursday, September 19th. Finally, UBS Group lowered their price target on shares of NIKE from $82.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.73.

NIKE Trading Up 0.3 %

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

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 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 return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.03 earnings per share. As a group, research analysts predict that NIKE, Inc. will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The company 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 dividend of $0.40 per share. 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. The ex-dividend date is Monday, December 2nd. NIKE’s payout ratio is currently 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.