NIKE (NYSE:NKE) Trading 0.6% Higher

NIKE, Inc. (NYSE:NKE)’s stock price shot up 0.6% during trading on Wednesday . The company traded as high as $94.82 and last traded at $94.60. 1,844,594 shares changed hands during trading, a decline of 81% from the average session volume of 9,461,225 shares. The stock had previously closed at $94.02.

Analysts Set New Price Targets

A number of research firms recently weighed in on NKE. Sanford C. Bernstein decreased their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Oppenheimer downgraded shares of NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price for the company. in a research report on Friday, February 16th. Piper Sandler decreased their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a research report on Friday, March 22nd. HSBC decreased their target price on shares of NIKE from $120.00 to $115.00 and set a “hold” rating for the company in a research report on Monday, January 22nd. Finally, Truist Financial reaffirmed a “hold” rating and issued a $111.00 target price on shares of NIKE in a research report on Tuesday, March 19th. Two research 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. According to data from MarketBeat.com, NIKE has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Up 0.7 %

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 stock has a market cap of $142.85 billion, a P/E ratio of 27.82, a P/E/G ratio of 1.82 and a beta of 1.08. The stock’s fifty day simple moving average is $97.63 and its 200-day simple moving average is $103.44.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. As a group, research analysts forecast that NIKE, Inc. will post 3.73 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. Stockholders of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors lifted 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 purchasing an additional 7,143,775 shares during the last quarter. FMR LLC lifted its stake in NIKE by 0.7% in the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock valued at $1,769,200,000 after purchasing an additional 125,746 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in NIKE by 87.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Northern Trust Corp increased its position in NIKE by 4.5% in the 3rd quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock valued at $1,487,625,000 after acquiring an additional 674,198 shares during the period. Finally, Norges Bank acquired a new position in NIKE in the 4th quarter valued at approximately $1,315,097,000. 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.