NIKE (NYSE:NKE) Stock Price Up 0.2%

NIKE, Inc. (NYSE:NKE)’s stock price shot up 0.2% during mid-day trading on Friday . The company traded as high as $96.22 and last traded at $95.90. 2,238,590 shares changed hands during trading, a decline of 76% from the average session volume of 9,488,771 shares. The stock had previously closed at $95.74.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NKE. Evercore ISI reduced their price target on shares of NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on NIKE from $132.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, December 22nd. Williams Trading restated a “sell” rating and set a $85.00 target price (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Piper Sandler cut their price target on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research note on Friday, March 22nd. Finally, Jefferies Financial Group lowered their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Down 0.4 %

The firm’s 50 day simple moving average is $98.31 and its 200-day simple moving average is $103.37. The company has a market cap of $143.90 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 1.83 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

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

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.55%. NIKE’s payout ratio is 43.53%.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of NIKE by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 109,543,029 shares of the footwear maker’s stock valued at $11,893,087,000 after purchasing an additional 1,698,423 shares during the last quarter. Morgan Stanley grew its position in NIKE by 26.4% in the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock valued at $3,594,561,000 after buying an additional 6,410,744 shares during the last quarter. Capital International Investors increased its stake in NIKE by 34.9% in the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares during the period. Alliancebernstein L.P. raised its position in NIKE by 7.2% during the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock worth $2,469,185,000 after buying an additional 1,493,704 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of NIKE by 0.7% in the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after acquiring an additional 125,746 shares during the period. 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.