NIKE (NYSE:NKE) Trading Down 0.9%

NIKE, Inc. (NYSE:NKE - Get Free Report)'s stock price fell 0.9% during mid-day trading on Tuesday . The stock traded as low as $92.73 and last traded at $93.23. 1,285,566 shares changed hands during trading, a decline of 86% from the average session volume of 9,276,298 shares. The stock had previously closed at $94.06.

Wall Street Analysts Forecast Growth

NKE has been the topic of a number of research analyst reports. Jefferies Financial Group decreased their target price on NIKE from $110.00 to $100.00 and set a "hold" rating on the stock in a research note on Friday, March 22nd. Royal Bank of Canada reaffirmed 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. Bank of America raised shares of NIKE from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Piper Sandler lowered their price objective on shares of NIKE from $107.00 to $98.00 and set a "neutral" rating on the stock in a research report on Friday, March 22nd. Finally, HSBC cut their target price on shares of NIKE from $120.00 to $115.00 and set a "hold" rating for the company in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $116.26.

NIKE Stock Down 1.9 %

The company has a 50 day moving average of $96.55 and a 200-day moving average of $103.28. The company has a market capitalization of $139.25 billion, a P/E ratio of 27.14, a PEG ratio of 1.82 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. As a group, equities analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders 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 1.60%. The ex-dividend date was Friday, March 1st. NIKE's payout ratio is currently 43.53%.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors boosted its holdings in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker's stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. FMR LLC lifted its position in NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker's stock valued at $1,769,200,000 after acquiring an additional 125,746 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in NIKE by 87.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker's stock worth $1,860,395,000 after acquiring an additional 7,996,434 shares in the last quarter. Northern Trust Corp grew its holdings in NIKE by 4.5% in the third quarter. Northern Trust Corp now owns 15,557,676 shares of the footwear maker's stock worth $1,487,625,000 after purchasing an additional 674,198 shares during the period. Finally, Norges Bank bought a new position in shares of NIKE during the fourth quarter valued at approximately $1,315,097,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

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.