NIKE (NYSE:NKE) Shares Up 1.9% - What's Next?

NIKE, Inc. (NYSE:NKE - Get Free Report)'s share price rose 1.9% during mid-day trading on Thursday . The stock traded as high as $75.11 and last traded at $74.94. Approximately 4,159,693 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 15,233,429 shares. The stock had previously closed at $73.56.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NKE. Bank of America increased their price target on shares of NIKE from $80.00 to $84.00 and gave the company a "buy" rating in a report on Friday, June 27th. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a report on Friday, May 23rd. Telsey Advisory Group reaffirmed a "market perform" rating and set a $70.00 price target on shares of NIKE in a report on Friday, June 27th. HSBC raised NIKE from a "hold" rating to a "buy" rating and set a $80.00 price objective on the stock in a research report on Friday, June 27th. Finally, Morgan Stanley upped their target price on shares of NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, NIKE currently has an average rating of "Moderate Buy" and a consensus target price of $77.15.

NIKE Trading Down 2.6%

The firm has a market cap of $107.47 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company's 50 day moving average price is $63.78 and its 200 day moving average price is $67.43.

NIKE (NYSE:NKE - Get Free Report) last posted its earnings results on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The business had revenue of $11.10 billion during the quarter, compared to the consensus estimate of $10.69 billion. NIKE had a return on equity of 23.33% and a net margin of 6.95%. The business's quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS. As a group, analysts forecast that NIKE, Inc. will post 2.05 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. NIKE's dividend payout ratio (DPR) is presently 74.07%.

Hedge Funds Weigh In On NIKE

Several hedge funds have recently bought and sold shares of NKE. Stone House Investment Management LLC acquired a new position in NIKE in the 1st quarter valued at $25,000. Heck Capital Advisors LLC acquired a new stake in NIKE during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. acquired a new position in NIKE during the fourth quarter valued at approximately $30,000. LFA Lugano Financial Advisors SA increased its holdings in NIKE by 110.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. Finally, Saudi Central Bank acquired a new position in NIKE during the 1st quarter worth approximately $30,000. 64.25% of the stock is 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.