Russell Investments Group Ltd. Buys 70,944 Shares of NIKE, Inc. $NKE

Russell Investments Group Ltd. boosted its position in NIKE, Inc. (NYSE:NKE) by 15.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538,246 shares of the footwear maker’s stock after purchasing an additional 70,944 shares during the quarter. Russell Investments Group Ltd.’s holdings in NIKE were worth $22,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of NKE. Mosaic Family Wealth Partners LLC grew its position in shares of NIKE by 12.3% during the 2nd quarter. Mosaic Family Wealth Partners LLC now owns 40,722 shares of the footwear maker’s stock valued at $1,672,000 after purchasing an additional 4,466 shares in the last quarter. Retirement Planning Group LLC bought a new position in shares of NIKE in the second quarter worth $217,000. Donaldson Capital Management LLC increased its holdings in shares of NIKE by 10.2% in the second quarter. Donaldson Capital Management LLC now owns 10,608 shares of the footwear maker’s stock worth $435,000 after purchasing an additional 983 shares during the period. Advisor OS LLC raised its position in shares of NIKE by 14.8% in the second quarter. Advisor OS LLC now owns 5,172 shares of the footwear maker’s stock worth $212,000 after buying an additional 668 shares in the last quarter. Finally, KBC Group NV raised its position in shares of NIKE by 65.1% in the second quarter. KBC Group NV now owns 372,042 shares of the footwear maker’s stock worth $15,273,000 after buying an additional 146,693 shares in the last quarter. 64.25% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NIKE news, insider Amy Montagne sold 4,867 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total value of $204,657.35. Following the completion of the sale, the insider owned 57,436 shares in the company, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Matthew Friend sold 2,463 shares of the stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $41.60, for a total value of $102,460.80. Following the sale, the chief financial officer directly owned 82,165 shares of the company’s stock, valued at approximately $3,418,064. This trade represents a 2.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 26,142 shares of company stock valued at $1,169,380 in the last 90 days. 1.10% of the stock is owned by insiders.

NIKE Stock Performance

NYSE NKE opened at $40.73 on Friday. The company has a 50-day simple moving average of $42.90 and a two-hundred day simple moving average of $48.73. NIKE, Inc. has a 12-month low of $40.00 and a 12-month high of $80.17. The firm has a market cap of $60.42 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.81 and a beta of 1.11. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, June 30th. The footwear maker reported $0.20 EPS for the quarter, topping the consensus estimate of $0.11 by $0.09. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $10.85 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.14 earnings per share. On average, equities analysts forecast that NIKE, Inc. will post 1.74 EPS for the current year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.0%. The ex-dividend date is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus set a $45.00 target price on NIKE and gave the stock a “hold” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $40.00 price target (down from $47.00) on shares of NIKE in a report on Tuesday, August 4th. Weiss Ratings upgraded NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 17th. Citigroup reissued a “neutral” rating on shares of NIKE in a report on Wednesday, July 22nd. Finally, UBS Group set a $48.00 price objective on shares of NIKE and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eighteen have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.53.

About NIKE

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).