NIKE (NYSE:NKE) Shares Down 2.1%

Shares of NIKE, Inc. (NYSE:NKE - Get Free Report) dropped 2.1% during mid-day trading on Wednesday . The stock traded as low as $90.23 and last traded at $90.34. Approximately 2,375,697 shares traded hands during trading, a decline of 74% from the average daily volume of 9,253,732 shares. The stock had previously closed at $92.26.

Analyst Ratings Changes

A number of research firms have recently weighed in on NKE. Sanford C. Bernstein cut their price target on NIKE from $134.00 to $120.00 and set an "outperform" rating for the company in a report on Friday, March 22nd. Telsey Advisory Group cut their price target on NIKE from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Monday, March 18th. Bank of America raised 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 report on Thursday, April 11th. Royal Bank of Canada reissued a "sector perform" rating and issued a $100.00 price target (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Finally, Williams Trading reissued a "sell" rating and issued a $85.00 price target (down from $92.00) on shares of NIKE in a report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, NIKE presently has an average rating of "Moderate Buy" and an average price target of $116.26.

NIKE Stock 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 company has a 50 day moving average of $96.25 and a 200 day moving average of $103.19. The firm has a market cap of $136.32 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.81 and a beta of 1.08.

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

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Friday, March 1st. NIKE's payout ratio is currently 43.53%.

Institutional Trading of NIKE

Institutional investors and hedge funds have recently bought and sold shares of the company. 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 purchasing an additional 1,041 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of NIKE during the fourth quarter valued at approximately $8,034,000. Financial Gravity Asset Management Inc. grew its holdings in shares of 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 valued at $17,598,000 after purchasing an additional 176,476 shares during the last quarter. International Assets Investment Management LLC grew its holdings in NIKE by 10,184.3% in the 4th quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker's stock worth $42,139,000 after buying an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its holdings in NIKE by 55.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker's stock worth $21,080,000 after buying an additional 69,363 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company's stock.

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.