NIKE (NYSE:NKE) Shares Up 0.9%

NIKE, Inc. (NYSE:NKE)’s share price shot up 0.9% during mid-day trading on Friday . The company traded as high as $95.42 and last traded at $94.74. 1,805,710 shares traded hands during trading, a decline of 81% from the average session volume of 9,373,891 shares. The stock had previously closed at $93.94.

Analysts Set New Price Targets

A number of brokerages have issued reports on NKE. Wells Fargo & Company cut their price target on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Citigroup cut their price objective on shares of NIKE from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, March 14th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $100.00 price objective (down previously from $110.00) on shares of NIKE in a research note on Friday, March 22nd. Finally, Williams Trading reiterated a “sell” rating and issued a $85.00 price objective (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Two equities research 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, the company currently has an average rating of “Moderate Buy” and an average price target of $116.26.

NIKE Stock Up 0.2 %

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 stock has a market cap of $142.05 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 1.83 and a beta of 1.08. The business’s fifty day moving average is $97.15 and its two-hundred day moving average is $103.32.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.29. The firm had revenue of $12.43 billion during the quarter, compared to analysts’ expectations of $12.28 billion. NIKE had a net margin of 10.14% and a return on equity of 39.41%. Equities analysts forecast that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were paid 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 yield of 1.57%. NIKE’s dividend payout ratio is currently 43.53%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NKE. SlateStone Wealth LLC lifted its position in shares of NIKE by 81.4% during the 1st quarter. SlateStone Wealth LLC now owns 48,737 shares of the footwear maker’s stock worth $4,580,000 after buying an additional 21,871 shares during the last quarter. ZWJ Investment Counsel Inc. lifted its position in shares of NIKE by 92.0% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 4,991 shares of the footwear maker’s stock worth $469,000 after buying an additional 2,392 shares during the last quarter. McKinley Carter Wealth Services Inc. lifted its position in shares of NIKE by 30.4% during the 1st quarter. McKinley Carter Wealth Services Inc. now owns 4,953 shares of the footwear maker’s stock worth $465,000 after buying an additional 1,156 shares during the last quarter. Mitchell & Pahl Private Wealth LLC lifted its position in shares of NIKE by 16.2% during the 1st quarter. Mitchell & Pahl Private Wealth LLC now owns 9,470 shares of the footwear maker’s stock worth $890,000 after buying an additional 1,321 shares during the last quarter. Finally, Sumitomo Life Insurance Co. lifted its position in shares of NIKE by 8.4% during the 1st quarter. Sumitomo Life Insurance Co. now owns 60,001 shares of the footwear maker’s stock worth $6,000,000 after buying an additional 4,641 shares during the last quarter. Hedge funds and other institutional investors 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.