NIKE (NYSE:NKE) Trading 0.9% Higher

NIKE, Inc. (NYSE:NKE) shares were up 0.9% on Friday . The stock traded as high as $95.42 and last traded at $94.74. Approximately 1,805,710 shares changed hands during trading, a decline of 81% from the average daily volume of 9,373,891 shares. The stock had previously closed at $93.94.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NKE. Robert W. Baird dropped their price target on NIKE from $140.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. The Goldman Sachs Group reduced their target price on NIKE from $135.00 to $120.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Oppenheimer downgraded NIKE from an “outperform” rating to a “market perform” rating and set a $110.00 price target on the stock. in a report on Friday, February 16th. HSBC reduced 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. Finally, UBS Group lowered their target price on NIKE from $138.00 to $125.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Trading Up 0.2 %

The firm has a market cap of $142.06 billion, a P/E ratio of 27.68, a PEG ratio of 1.81 and a beta of 1.08. The company’s 50 day moving average is $96.96 and its two-hundred day moving average is $103.34. 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) last posted its quarterly earnings results on Thursday, March 21st. The footwear maker reported $0.98 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 during the quarter, compared to analysts’ expectations of $12.28 billion. On average, sell-side analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 4th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.57%. The ex-dividend date was Friday, March 1st. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Hedge Funds Weigh In On NIKE

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in NIKE during the fourth quarter worth about $1,315,097,000. Price T Rowe Associates Inc. MD grew its position in NIKE by 87.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after acquiring an additional 7,996,434 shares during the period. Capital International Investors raised its stake in NIKE by 34.9% during the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after acquiring an additional 7,143,775 shares in the last quarter. Newport Trust Company LLC acquired a new stake in shares of NIKE in the 3rd quarter valued at $679,775,000. Finally, Flossbach Von Storch AG grew its holdings in shares of NIKE by 433.5% in the 3rd quarter. Flossbach Von Storch AG now owns 4,128,587 shares of the footwear maker’s stock worth $394,775,000 after purchasing an additional 3,354,677 shares during the last quarter. 64.25% of the stock is owned by 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.