NIKE (NYSE:NKE) Shares Down 0.5%

Shares of NIKE, Inc. (NYSE:NKE) dropped 0.5% during trading on Wednesday . The company traded as low as $92.73 and last traded at $93.31. Approximately 1,058,707 shares traded hands during trading, a decline of 88% from the average daily volume of 9,133,153 shares. The stock had previously closed at $93.78.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NKE shares. Bank of America raised 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 note on Thursday, April 11th. Williams Trading reissued a “sell” rating and issued a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Robert W. Baird decreased their price objective on NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Morgan Stanley reduced their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Finally, Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of NIKE in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Trading Down 0.2 %

The business has a fifty day moving average of $95.28 and a 200-day moving average of $102.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company has a market capitalization of $141.26 billion, a P/E ratio of 27.48, a PEG ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 net margin of 10.14% and a return on equity of 39.41%. Analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. NIKE’s dividend payout ratio (DPR) is currently 43.53%.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently modified their holdings of the stock. Oliver Luxxe Assets LLC lifted its position in shares of NIKE by 2.9% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after buying an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in NIKE during the fourth quarter worth $8,034,000. Financial Gravity Asset Management Inc. boosted its position in NIKE by 2,332.5% in the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after purchasing an additional 176,476 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of NIKE by 10,184.3% during the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after purchasing an additional 384,357 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC raised its stake in shares of NIKE by 55.6% during the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares during the period. 64.25% of the stock is owned by hedge funds and other institutional investors.

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.