NIKE (NYSE:NKE) Trading 0.6% Higher

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on NIKE from $129.00 to $117.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. HSBC lowered their price objective on NIKE from $120.00 to $115.00 and set a "hold" rating for the company in a research note on Monday, January 22nd. Truist Financial reaffirmed a "hold" rating and issued a $111.00 price objective on shares of NIKE in a research note on Tuesday, March 19th. Sanford C. Bernstein lowered their price objective on NIKE from $134.00 to $120.00 and set an "outperform" rating for the company in a research note on Friday, March 22nd. Finally, Barclays lowered their price objective on NIKE from $142.00 to $114.00 and set an "overweight" rating for the company in a research note on Monday, March 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $116.26.

NIKE Price Performance

The stock has a fifty day moving average price of $97.39 and a 200-day moving average price of $103.38. The firm has a market capitalization of $142.85 billion, a PE ratio of 27.84, a P/E/G ratio of 1.82 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE - Get Free Report) last announced its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.43 billion for the quarter, compared to the consensus estimate of $12.28 billion. Sell-side analysts forecast that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.56%. NIKE's dividend payout ratio is presently 43.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Impact Partnership Wealth LLC boosted its position in shares of NIKE by 220.7% in the 3rd quarter. Impact Partnership Wealth LLC now owns 263 shares of the footwear maker's stock worth $25,000 after purchasing an additional 181 shares in the last quarter. Meridian Wealth Management LLC boosted its position in shares of NIKE by 98.3% in the 3rd quarter. Meridian Wealth Management LLC now owns 10,074 shares of the footwear maker's stock worth $963,000 after purchasing an additional 4,995 shares in the last quarter. CreativeOne Wealth LLC boosted its position in shares of NIKE by 126.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 17,696 shares of the footwear maker's stock worth $1,692,000 after purchasing an additional 9,865 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of NIKE by 3.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 96,911 shares of the footwear maker's stock worth $9,267,000 after purchasing an additional 3,401 shares in the last quarter. Finally, Private Trust Co. NA boosted its position in shares of NIKE by 3.9% in the 3rd quarter. Private Trust Co. NA now owns 21,133 shares of the footwear maker's stock worth $2,021,000 after purchasing an additional 794 shares in the last quarter. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

About NIKE

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.