NIKE (NYSE:NKE) Trading 0.6% Higher

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Oppenheimer lowered NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 target price on the stock. in a research report on Friday, February 16th. Williams Trading reiterated a “sell” rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a research note on Monday, March 18th. UBS Group decreased their target price on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Telsey Advisory Group decreased their target price on NIKE from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, March 18th. Finally, Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of NIKE in a research note on Wednesday, March 27th. Two investment 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Price Performance

The company has a market cap of $142.85 billion, a P/E ratio of 27.82, a PEG ratio of 1.82 and a beta of 1.08. The company has a fifty day simple moving average of $97.63 and a 200-day simple moving average of $103.44. 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 posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $12.28 billion. On average, sell-side analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Announces Dividend

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

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Simplicity Wealth LLC grew its position in NIKE by 482.5% during the 1st quarter. Simplicity Wealth LLC now owns 30,857 shares of the footwear maker’s stock worth $2,900,000 after purchasing an additional 25,560 shares in the last quarter. Bar Harbor Wealth Management grew its position in NIKE by 92.3% during the 1st quarter. Bar Harbor Wealth Management now owns 90,536 shares of the footwear maker’s stock worth $8,509,000 after purchasing an additional 43,445 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of NIKE by 212.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 843,373 shares of the footwear maker’s stock valued at $79,260,000 after acquiring an additional 573,401 shares in the last quarter. Iowa State Bank grew its holdings in shares of NIKE by 62.9% during the 1st quarter. Iowa State Bank now owns 17,010 shares of the footwear maker’s stock valued at $1,599,000 after acquiring an additional 6,568 shares in the last quarter. Finally, Absher Wealth Management LLC grew its holdings in shares of NIKE by 16.3% during the 1st quarter. Absher Wealth Management LLC now owns 271,329 shares of the footwear maker’s stock valued at $25,500,000 after acquiring an additional 38,012 shares in the last quarter. 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.