Russell Investments Group Ltd. Has $145.82 Million Stake in NIKE, Inc. (NYSE:NKE)

Russell Investments Group Ltd. trimmed its holdings in NIKE, Inc. (NYSE:NKE) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,342,750 shares of the footwear maker’s stock after selling 23,172 shares during the period. Russell Investments Group Ltd.’s holdings in NIKE were worth $145,823,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NKE. Oliver Luxxe Assets LLC lifted its holdings in NIKE by 2.9% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after purchasing an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System acquired a new stake in NIKE during the 4th quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. lifted its holdings in NIKE by 2,332.5% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after purchasing an additional 384,357 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC lifted its holdings in NIKE by 55.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Stock Up 0.2 %

NKE stock traded up $0.18 during trading on Friday, reaching $94.12. 6,115,744 shares of the stock were exchanged, compared to its average volume of 9,124,711. The firm’s 50 day moving average is $96.96 and its 200 day moving average is $103.30. NIKE, Inc. has a twelve month low of $88.66 and a twelve month high of $128.68. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63. The firm has a market cap of $142.06 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a return on equity of 39.41% and a net margin of 10.14%. The business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. As a group, research analysts forecast that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

Analyst Ratings Changes

Several research firms recently weighed in on NKE. Piper Sandler dropped their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Evercore ISI lowered their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Barclays lowered their price objective on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research note on Monday, March 25th. Stifel Nicolaus lowered their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and a consensus target price of $116.26.

About NIKE

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.