NIKE (NYSE:NKE) Stock Price Down 0.2%

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

Wall Street Analyst Weigh In

A number of analysts have commented on NKE shares. Bank of America raised NIKE from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. TheStreet cut NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Oppenheimer cut NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price objective for the company. in a report on Friday, February 16th. Piper Sandler reduced their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Finally, Barclays reduced their price target on NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Two equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Down 0.2 %

The stock has a market capitalization of $141.94 billion, a price-to-earnings ratio of 27.66, a PEG ratio of 1.82 and a beta of 1.08. The business has a fifty day moving average of $97.63 and a 200 day moving average of $103.44. 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 announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.29. The business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities analysts predict 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 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 payout ratio is 43.53%.

Hedge Funds Weigh In On NIKE

A number of institutional investors have recently modified their holdings of the business. Iowa State Bank increased its stake in NIKE by 62.9% in the 1st quarter. Iowa State Bank now owns 17,010 shares of the footwear maker’s stock valued at $1,599,000 after buying an additional 6,568 shares during the period. Absher Wealth Management LLC increased its stake in NIKE by 16.3% in the 1st quarter. Absher Wealth Management LLC now owns 271,329 shares of the footwear maker’s stock valued at $25,500,000 after buying an additional 38,012 shares during the period. Sweet Financial Partners LLC acquired a new position in NIKE in the 1st quarter valued at $1,681,000. LaFleur & Godfrey LLC increased its stake in NIKE by 2.8% in the 1st quarter. LaFleur & Godfrey LLC now owns 47,592 shares of the footwear maker’s stock valued at $4,473,000 after buying an additional 1,305 shares during the period. Finally, United Asset Strategies Inc. increased its stake in NIKE by 237.2% in the 1st quarter. United Asset Strategies Inc. now owns 27,782 shares of the footwear maker’s stock valued at $2,611,000 after buying an additional 19,542 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

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.