NIKE (NYSE:NKE) Stock Price Down 0.9%

NIKE, Inc. (NYSE:NKE) was down 0.9% during trading on Tuesday . The company traded as low as $92.73 and last traded at $93.23. Approximately 1,285,566 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 9,276,298 shares. The stock had previously closed at $94.06.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, March 14th. Wedbush reiterated an “outperform” rating and set a $115.00 price target on shares of NIKE in a research report on Tuesday. Jefferies Financial Group lowered their price objective on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Friday, March 22nd. UBS Group reduced their target price on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Barclays lowered 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 investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Performance

The company’s 50-day moving average price is $96.78 and its two-hundred day moving average price is $103.33. The company has a market capitalization of $139.25 billion, a price-to-earnings ratio of 27.42, a PEG ratio of 1.82 and a beta of 1.09. 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 issued its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating 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 business had revenue of $12.43 billion for the quarter, compared to analysts’ expectations of $12.28 billion. On average, equities research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.60%. NIKE’s dividend payout ratio is currently 43.53%.

Institutional Trading of NIKE

Hedge funds have recently modified their holdings of the stock. Annapolis Financial Services LLC boosted its holdings in NIKE by 440.0% in the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after acquiring an additional 220 shares in the last quarter. Iron Horse Wealth Management LLC lifted its stake in shares of NIKE by 120.7% in the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after buying an additional 140 shares in the last quarter. Planned Solutions Inc. acquired a new position in shares of NIKE during the fourth quarter valued at about $29,000. True Wealth Design LLC increased its position in shares of NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of NIKE in the 4th quarter worth about $33,000. 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.