NIKE (NYSE:NKE) Trading Up 0.6%

NIKE, Inc. (NYSE:NKE) shares were up 0.6% during mid-day 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 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 recently issued reports on NKE shares. Stifel Nicolaus decreased their price objective on NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Citigroup decreased their price objective on NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, March 14th. Evercore ISI decreased their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Morgan Stanley decreased their price target on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a report on Wednesday, March 27th. Finally, Wells Fargo & Company decreased their price target on NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

The business has a 50-day moving average of $97.15 and a two-hundred day moving average of $103.32. The company has a market cap of $142.79 billion, a P/E ratio of 27.63, a P/E/G ratio of 1.83 and a beta of 1.08. 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 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 return on equity of 39.41% and a net margin of 10.14%. The company had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. On average, sell-side analysts predict that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is presently 43.53%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Oliver Luxxe Assets LLC raised its position in NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock valued at $3,587,000 after acquiring an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in NIKE during the fourth quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. raised its position in NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock valued at $17,598,000 after acquiring an additional 176,476 shares in the last quarter. International Assets Investment Management LLC raised its position in NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock valued at $42,139,000 after acquiring an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its holdings in NIKE by 55.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock valued at $21,080,000 after purchasing an additional 69,363 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.