NIKE (NYSE:NKE) Trading Down 0.2%

NIKE, Inc. (NYSE:NKE)’s stock price traded down 0.2% on Tuesday . The stock traded as low as $91.65 and last traded at $92.96. 2,188,192 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 9,461,733 shares. The stock had previously closed at $93.10.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NKE shares. Morgan Stanley decreased their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Citigroup decreased their target price on NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, March 14th. Sanford C. Bernstein dropped their target price on NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. The Goldman Sachs Group decreased their target price on NIKE from $135.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Finally, Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and upped their price objective for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Up 0.3 %

The firm’s 50-day simple moving average is $98.83 and its 200 day simple moving average is $103.49. The company has a market cap of $140.88 billion, a P/E ratio of 27.34, a PEG ratio of 1.79 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last released its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, research analysts forecast that NIKE, Inc. will post 3.7 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s payout ratio is 43.53%.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently modified their holdings of the company. Impact Partnership Wealth LLC increased its position in shares of NIKE by 220.7% during the third quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after buying an additional 181 shares during the period. Iron Horse Wealth Management LLC boosted its stake in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after acquiring an additional 140 shares in the last quarter. Planned Solutions Inc. bought a new stake in NIKE during the fourth quarter worth about $29,000. Financial Freedom LLC bought a new stake in NIKE during the fourth quarter worth about $29,000. Finally, True Wealth Design LLC boosted its stake in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.