Principal Financial Group Inc. raised its position in shares of Nike, Inc. (NYSE:NKE) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,958,829 shares of the footwear maker’s stock after buying an additional 38,943 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Nike worth $109,165,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NKE. Hartford Financial Management Inc. acquired a new stake in shares of Nike during the first quarter worth $351,000. Professional Advisory Services Inc. increased its stake in shares of Nike by 2,274.0% in the first quarter. Professional Advisory Services Inc. now owns 206,538 shares of the footwear maker’s stock worth $11,510,000 after buying an additional 197,838 shares in the last quarter. Lederer & Associates Investment Counsel CA increased its stake in shares of Nike by 1.4% in the first quarter. Lederer & Associates Investment Counsel CA now owns 6,330 shares of the footwear maker’s stock worth $353,000 after buying an additional 90 shares in the last quarter. Deschutes Portfolio Strategy LLC increased its stake in shares of Nike by 4.3% in the first quarter. Deschutes Portfolio Strategy LLC now owns 12,349 shares of the footwear maker’s stock worth $688,000 after buying an additional 504 shares in the last quarter. Finally, St. Johns Investment Management Company LLC increased its stake in shares of Nike by 3.0% in the first quarter. St. Johns Investment Management Company LLC now owns 19,682 shares of the footwear maker’s stock worth $1,097,000 after buying an additional 581 shares in the last quarter. 62.71% of the stock is owned by institutional investors and hedge funds.

Shares of Nike, Inc. (NYSE NKE) traded up 0.24% on Monday, hitting $54.03. 1,220,949 shares of the stock traded hands. The firm has a market capitalization of $88.78 billion, a PE ratio of 21.53 and a beta of 0.59. The firm’s 50 day moving average is $58.03 and its 200 day moving average is $55.80. Nike, Inc. has a 52 week low of $49.01 and a 52 week high of $60.53.

Nike (NYSE:NKE) last announced its earnings results on Thursday, June 29th. The footwear maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.10. Nike had a return on equity of 34.18% and a net margin of 12.34%. The firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.63 billion. During the same period last year, the firm posted $0.49 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Nike, Inc. will post $2.42 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Thursday, August 31st. Nike’s dividend payout ratio is presently 28.69%.

COPYRIGHT VIOLATION NOTICE: “Principal Financial Group Inc. Acquires 38,943 Shares of Nike, Inc. (NKE)” was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.watchlistnews.com/principal-financial-group-inc-acquires-38943-shares-of-nike-inc-nke/1528142.html.

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus set a $66.00 price objective on shares of Nike and gave the company a “buy” rating in a research report on Saturday, July 22nd. Piper Jaffray Companies set a $53.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Saturday, July 22nd. Guggenheim reaffirmed a “buy” rating and set a $70.00 price objective on shares of Nike in a research report on Monday, July 24th. Cowen and Company set a $54.00 price objective on shares of Nike and gave the company a “hold” rating in a research report on Friday, August 4th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Nike in a research report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $60.53.

In other news, CFO Andrew Campion sold 96,243 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $56.68, for a total transaction of $5,455,053.24. Following the completion of the sale, the chief financial officer now directly owns 50,246 shares of the company’s stock, valued at approximately $2,847,943.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eric D. Sprunk sold 50,000 shares of the firm’s stock in a transaction on Friday, June 30th. The shares were sold at an average price of $59.00, for a total value of $2,950,000.00. Following the sale, the insider now directly owns 300,108 shares of the company’s stock, valued at $17,706,372. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 492,360 shares of company stock valued at $28,485,174. Insiders own 3.90% of the company’s stock.

Nike Company Profile

NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. The Company’s operating segments include North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets. Its portfolio brands include the NIKE Brand, Jordan Brand, Hurley and Converse.

Institutional Ownership by Quarter for Nike (NYSE:NKE)

Receive News & Ratings for Nike Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nike Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.