NIKE (NYSE:NKE) Shares Up 0.3%

NIKE, Inc. (NYSE:NKE)’s stock price traded up 0.3% during trading on Wednesday . The company traded as high as $94.19 and last traded at $93.39. 10,388,153 shares were traded during trading, a decline of 11% from the average session volume of 11,716,572 shares. The stock had previously closed at $93.10.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NKE shares. Evercore ISI lowered their price objective on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Raymond James boosted their price target on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 19th. BMO Capital Markets upped their price objective on shares of NIKE from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, December 22nd. Stifel Nicolaus lowered their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of NIKE in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, NIKE has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

The company has a market cap of $140.96 billion, a PE ratio of 27.47, a PEG ratio of 1.80 and a beta of 1.08. 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 firm’s 50 day moving average is $98.65 and its 200-day moving average is $103.48.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $12.28 billion. On average, research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Institutional Trading of NIKE

Several hedge funds have recently made changes to their positions in the company. BCK Partners Inc. purchased a new position in shares of NIKE during the 1st quarter worth $2,839,000. Loomis Sayles & Co. L P boosted its stake in NIKE by 138.2% during the first quarter. Loomis Sayles & Co. L P now owns 11,233 shares of the footwear maker’s stock worth $1,511,000 after buying an additional 6,518 shares during the period. Merit Financial Group LLC increased its position in shares of NIKE by 13.3% during the first quarter. Merit Financial Group LLC now owns 1,588 shares of the footwear maker’s stock valued at $214,000 after acquiring an additional 186 shares during the last quarter. Bridgewater Associates LP purchased a new stake in shares of NIKE in the 1st quarter valued at approximately $278,000. Finally, Federated Hermes Inc. lifted its holdings in shares of NIKE by 9.8% in the 1st quarter. Federated Hermes Inc. now owns 433,950 shares of the footwear maker’s stock worth $58,392,000 after acquiring an additional 38,903 shares during the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

About NIKE

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.