Russell Investments Group Ltd. Buys 82,270 Shares of NIKE, Inc. (NYSE:NKE)

Key Points

• Russell Investments Group Ltd. increased its holdings in NIKE by 9.7%, acquiring an additional 82,270 shares to own a total of 926,161 shares valued at approximately $58.77 million.
• NIKE reported a quarterly earnings per share (EPS) of $0.14, exceeding the consensus estimate by $0.02, with revenue of $11.10 billion that surpasses expectations.
• The company declared a quarterly dividend of $0.40 per share, representing an annualized yield of 2.1%, and the dividend payout ratio stands at 74.07%.

Russell Investments Group Ltd. lifted its holdings in shares of NIKE, Inc. (NYSE:NKE - Free Report) by 9.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 926,161 shares of the footwear maker's stock after purchasing an additional 82,270 shares during the period. Russell Investments Group Ltd. owned about 0.06% of NIKE worth $58,774,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Spire Wealth Management grew its holdings in NIKE by 4.4% in the 1st quarter. Spire Wealth Management now owns 9,872 shares of the footwear maker's stock worth $627,000 after acquiring an additional 416 shares during the last quarter. Capitolis Liquid Global Markets LLC lifted its position in shares of NIKE by 40.9% in the 4th quarter. Capitolis Liquid Global Markets LLC now owns 310,000 shares of the footwear maker's stock worth $23,458,000 after purchasing an additional 90,000 shares during the period. Janus Henderson Group PLC lifted its position in shares of NIKE by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 6,081,021 shares of the footwear maker's stock worth $460,160,000 after purchasing an additional 463,470 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of NIKE by 0.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,008,340 shares of the footwear maker's stock worth $69,932,000 after purchasing an additional 5,601 shares during the period. Finally, Evergreen Capital Management LLC lifted its position in shares of NIKE by 3.3% in the 4th quarter. Evergreen Capital Management LLC now owns 237,199 shares of the footwear maker's stock worth $18,042,000 after purchasing an additional 7,536 shares during the period. Institutional investors own 64.25% of the company's stock.

NIKE Trading Up 3.2%

Shares of NKE opened at $77.28 on Thursday. NIKE, Inc. has a twelve month low of $52.28 and a twelve month high of $90.62. The company has a current ratio of 2.21, a quick ratio of 1.50 and a debt-to-equity ratio of 0.60. The company has a market cap of $114.13 billion, a P/E ratio of 35.78, a P/E/G ratio of 2.72 and a beta of 1.27. The company's fifty day simple moving average is $70.49 and its 200-day simple moving average is $67.67.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The footwear maker reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $11.10 billion for the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm's revenue was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.99 EPS. As a group, analysts expect that NIKE, Inc. will post 2.05 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. NIKE's dividend payout ratio (DPR) is currently 74.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NKE shares. JPMorgan Chase & Co. raised shares of NIKE from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $64.00 to $93.00 in a research report on Monday, July 28th. Royal Bank Of Canada lowered their price target on shares of NIKE from $66.00 to $65.00 and set a "sector perform" rating for the company in a research report on Tuesday, May 20th. Hsbc Global Res raised shares of NIKE from a "hold" rating to a "strong-buy" rating in a research note on Friday, June 27th. Argus raised shares of NIKE to a "buy" rating in a research note on Sunday, July 6th. Finally, Bank of America boosted their price objective on shares of NIKE from $80.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $78.22.

Insider Buying and Selling

In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $72.29, for a total transaction of $7,951,900.00. Following the transaction, the chairman owned 842,361 shares of the company's stock, valued at approximately $60,894,276.69. This trade represents a 11.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.80% of the stock is owned by corporate insiders.

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.

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