NIKE (NYSE:NKE) Stock Price Up 0.6%

NIKE, Inc. (NYSE:NKE) was up 0.6% during mid-day trading on Monday . The stock traded as high as $93.03 and last traded at $92.73. Approximately 1,678,776 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 9,191,939 shares. The stock had previously closed at $92.15.

Wall Street Analysts Forecast Growth

NKE has been the subject of a number of recent research reports. Robert W. Baird dropped their price target 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. UBS Group lowered their price target on NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Stifel Nicolaus reduced their price objective on shares of NIKE from $129.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Bank of America raised shares of NIKE from a “neutral” rating to a “buy” rating and upped their target price for the company from $110.00 to $113.00 in a research note on Thursday, April 11th. Finally, Barclays reduced their price target on shares of NIKE from $142.00 to $114.00 and set an “overweight” rating on the stock in a research report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $116.26.

NIKE Stock Up 1.3 %

The firm has a fifty day moving average of $95.73 and a 200-day moving average of $103.04. The company has a quick ratio of 1.89, a current ratio of 2.74 and a debt-to-equity ratio of 0.63. The firm has a market cap of $140.91 billion, a P/E ratio of 27.46, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $12.28 billion. On average, equities research analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, June 3rd. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Institutional Investors Weigh In On NIKE

Several hedge funds have recently bought and sold shares of the company. Oliver Luxxe Assets LLC lifted its stake in shares of NIKE by 2.9% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after buying an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of NIKE during the fourth quarter worth approximately $8,034,000. Financial Gravity Asset Management Inc. grew its position in shares of NIKE by 2,332.5% in 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 purchasing an additional 176,476 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of NIKE by 10,184.3% in 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 purchasing an additional 384,357 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC increased its stake in shares of NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after purchasing an additional 69,363 shares during the period. 64.25% of the stock is currently owned by institutional investors and hedge funds.

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.