NIKE (NYSE:NKE) Shares Down 0.2%

NIKE, Inc. (NYSE:NKE) shares traded down 0.2% on Tuesday . The company traded as low as $91.65 and last traded at $92.96. 2,188,192 shares were traded during mid-day trading, a decline of 77% from the average session volume of 9,461,733 shares. The stock had previously closed at $93.10.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 target price (down from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Barclays cut 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. The Goldman Sachs Group reduced their price target on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of NIKE in a report on Wednesday, March 27th. Finally, TheStreet lowered NIKE from a “b” rating to a “c+” rating in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

NIKE Price Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The business’s 50 day moving average is $98.83 and its two-hundred day moving average is $103.49. The firm has a market capitalization of $140.88 billion, a PE ratio of 27.34, a P/E/G ratio of 1.79 and a beta of 1.09.

NIKE (NYSE:NKE) last released its quarterly 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. NIKE had a net margin of 10.14% and a return on equity of 39.41%. The firm had revenue of $12.43 billion during the quarter, compared to analyst estimates of $12.28 billion. As a group, research analysts anticipate that NIKE, Inc. will post 3.7 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, March 1st. NIKE’s payout ratio is currently 43.53%.

Hedge Funds Weigh In On NIKE

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NKE. Impact Partnership Wealth LLC boosted 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 worth $25,000 after acquiring an additional 181 shares in the last quarter. Iron Horse Wealth Management LLC grew its position in NIKE by 120.7% during the fourth quarter. Iron Horse Wealth Management LLC now owns 256 shares of the footwear maker’s stock valued at $28,000 after acquiring an additional 140 shares during the period. Planned Solutions Inc. acquired a new position in shares of NIKE in the fourth quarter worth about $29,000. Financial Freedom LLC acquired a new stake in NIKE during the fourth quarter valued at approximately $29,000. Finally, True Wealth Design LLC grew its holdings 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 in the last quarter. 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.