NIKE (NYSE:NKE) Stock Price Up 0.3%

NIKE, Inc. (NYSE:NKE)’s share price traded up 0.3% on Wednesday . The stock traded as high as $94.19 and last traded at $93.39. 10,388,153 shares were traded during trading, a decline of 11% from the average session volume of 11,716,572 shares. The stock had previously closed at $93.10.

Analysts Set New Price Targets

NKE has been the topic of a number of research analyst reports. Raymond James increased their target price on NIKE from $121.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, December 19th. Robert W. Baird decreased their price objective on shares of NIKE from $140.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Wells Fargo & Company cut their price objective on NIKE from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, March 22nd. Telsey Advisory Group decreased their target price on shares of NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Monday, March 18th. Finally, BMO Capital Markets increased their price objective on NIKE from $110.00 to $118.00 and gave the company an “outperform” rating in a report on Friday, December 22nd. Two 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Price Performance

The business has a fifty day moving average of $98.65 and a 200-day moving average of $103.48. The firm has a market cap of $140.96 billion, a PE ratio of 27.47, a PEG ratio of 1.80 and a beta of 1.08. 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 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. 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 analyst estimates of $12.28 billion. As a group, research analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors 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 1.58%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is currently 43.53%.

Hedge Funds Weigh In On NIKE

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Freedom LLC bought a new position in NIKE in the fourth quarter valued at $29,000. Iron Horse Wealth Management LLC boosted its holdings in shares of NIKE by 120.7% in the 4th quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 140 shares in the last quarter. Impact Partnership Wealth LLC increased its position in shares of NIKE by 220.7% during the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker’s stock valued at $25,000 after purchasing an additional 181 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of NIKE during the 4th quarter valued at about $29,000. Finally, True Wealth Design LLC lifted its position in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after buying an additional 150 shares during the last quarter. Hedge funds and other 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.