NIKE (NYSE:NKE) Stock Price Up 0.6%

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. The Goldman Sachs Group dropped their price target on shares of NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Barclays dropped their price objective on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating for the company in a report on Monday, March 25th. Jefferies Financial Group lowered their price target on shares of NIKE from $110.00 to $100.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Finally, Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $110.00 to $113.00 in a report on Thursday, April 11th. Two investment 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Price Performance

The firm has a market cap of $142.79 billion, a price-to-earnings ratio of 27.63, a P/E/G ratio of 1.83 and a beta of 1.08. The business’s 50-day moving average price is $97.15 and its two-hundred day moving average price is $103.32. 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 released 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. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. On average, research analysts forecast that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is 43.53%.

Institutional Investors Weigh In On NIKE

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors raised its stake in shares of NIKE by 34.9% during the fourth 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 in the last quarter. FMR LLC grew its holdings in NIKE by 0.7% during the third quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after acquiring an additional 125,746 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Northern Trust Corp grew its holdings in NIKE by 4.5% during the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker’s stock worth $1,487,625,000 after acquiring an additional 674,198 shares during the period. Finally, Norges Bank acquired a new position in NIKE during the fourth quarter worth about $1,315,097,000. 64.25% of the stock is currently owned by institutional investors.

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.