NIKE (NYSE:NKE) Trading Down 0.5%

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NKE shares. Sanford C. Bernstein cut their target price on shares of NIKE from $134.00 to $120.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. The Goldman Sachs Group decreased their target price on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Bank of America upgraded NIKE from a “neutral” rating to a “buy” rating and raised their target price for the company from $110.00 to $113.00 in a report on Thursday, April 11th. Piper Sandler reduced their price target on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Finally, Stifel Nicolaus dropped their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Trading Down 0.2 %

The firm has a market cap of $141.26 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.78 and a beta of 1.07. The business’s 50-day moving average is $95.28 and its two-hundred day moving average is $102.91. The company has a current ratio of 2.74, a quick ratio of 1.89 and a debt-to-equity ratio of 0.63.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. The company had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, analysts expect that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio is presently 43.53%.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently modified their holdings of the company. MAI Capital Management lifted its position in NIKE by 47.5% in the 1st quarter. MAI Capital Management now owns 187,082 shares of the footwear maker’s stock valued at $17,582,000 after purchasing an additional 60,221 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of NIKE by 10.3% during the first quarter. William Blair Investment Management LLC now owns 1,453,360 shares of the footwear maker’s stock valued at $136,587,000 after buying an additional 136,277 shares during the last quarter. Motley Fool Asset Management LLC boosted its position in shares of NIKE by 10.9% during the first quarter. Motley Fool Asset Management LLC now owns 49,928 shares of the footwear maker’s stock worth $4,692,000 after buying an additional 4,926 shares during the period. Sheets Smith Wealth Management grew its holdings in NIKE by 12.7% in the 1st quarter. Sheets Smith Wealth Management now owns 87,960 shares of the footwear maker’s stock worth $8,266,000 after buying an additional 9,900 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its position in NIKE by 9.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 45,307 shares of the footwear maker’s stock valued at $4,258,000 after acquiring an additional 3,788 shares during the period. Institutional investors and hedge funds 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.