NIKE, Inc. (NYSE:NKE - Get Free Report)'s share price rose 0.1% on Monday . The company traded as high as $94.89 and last traded at $94.22. Approximately 1,111,299 shares traded hands during trading, a decline of 88% from the average daily volume of 9,325,862 shares. The stock had previously closed at $94.12.
Wall Street Analyst Weigh In
NKE has been the subject of a number of recent analyst reports. Oppenheimer downgraded shares of NIKE from an "outperform" rating to a "market perform" rating and set a $110.00 price target for the company. in a report on Friday, February 16th. Sanford C. Bernstein cut their target price on shares of NIKE from $134.00 to $120.00 and set an "outperform" rating on the stock in a research report on Friday, March 22nd. Bank of America upgraded shares of NIKE from a "neutral" rating to a "buy" rating and raised their target price for the company from $110.00 to $113.00 in a research report on Thursday, April 11th. HSBC cut their target price on shares of NIKE from $120.00 to $115.00 and set a "hold" rating on the stock in a research report on Monday, January 22nd. Finally, Telsey Advisory Group cut their target price on shares of NIKE from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Monday, March 18th. Two investment 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 data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $116.26.
Check Out Our Latest Stock Analysis on NIKE
NIKE Price Performance
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 $141.99 billion, a P/E ratio of 27.67, a P/E/G ratio of 1.82 and a beta of 1.09. The business's 50 day moving average is $96.78 and its two-hundred day moving average is $103.33.
NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. As a group, analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current year.
NIKE Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, March 1st. NIKE's dividend payout ratio is currently 43.53%.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Oliver Luxxe Assets LLC grew its holdings in shares of NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker's stock valued at $3,587,000 after buying an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System purchased a new position in NIKE during the fourth quarter worth about $8,034,000. Financial Gravity Asset Management Inc. boosted its holdings in NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker's stock worth $17,598,000 after purchasing an additional 176,476 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker's stock worth $42,139,000 after purchasing an additional 384,357 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its holdings in 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 last quarter. 64.25% of the stock is currently owned by institutional investors and hedge funds.
About NIKE
(
Get Free Report)
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.
Further Reading
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