NIKE (NYSE:NKE) Stock Price Down 0.2%

NIKE, Inc. (NYSE:NKE)’s share price dropped 0.2% during mid-day trading on Monday . The company traded as low as $93.94 and last traded at $94.31. Approximately 2,799,117 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 9,522,524 shares. The stock had previously closed at $94.53.

Analysts Set New Price Targets

NKE has been the topic of a number of recent research reports. Barclays dropped their target price on NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Stifel Nicolaus dropped their target price on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Telsey Advisory Group dropped their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, March 18th. Robert W. Baird lowered their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Evercore ISI lowered their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Trading Down 0.2 %

The business has a 50-day moving average price of $97.63 and a two-hundred day moving average price of $103.44. The stock has a market capitalization of $141.94 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.82 and a beta of 1.08. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last released its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating 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 firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. On average, analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

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

Hedge Funds Weigh In On NIKE

Institutional investors have recently modified their holdings of the business. Iron Horse Wealth Management LLC raised its holdings in shares of NIKE by 120.7% during the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after buying an additional 140 shares in the last quarter. Impact Partnership Wealth LLC increased its holdings in NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 181 shares in the last quarter. Annapolis Financial Services LLC increased its holdings in NIKE by 440.0% in the 1st quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after purchasing an additional 220 shares in the last quarter. Planned Solutions Inc. acquired a new position in NIKE in the 4th quarter worth about $29,000. Finally, True Wealth Design LLC increased its holdings in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds 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.