NIKE (NYSE:NKE) Stock Price Down 0.4%

NIKE, Inc. (NYSE:NKE)’s stock price dropped 0.4% during mid-day trading on Friday . The stock traded as low as $91.99 and last traded at $92.05. Approximately 1,655,030 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 9,230,195 shares. The stock had previously closed at $92.41.

Analysts Set New Price Targets

NKE has been the subject of several analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price (down from $110.00) on shares of NIKE in a report on Friday, March 22nd. Piper Sandler dropped their target price on NIKE from $107.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 22nd. Morgan Stanley dropped their target price on NIKE from $124.00 to $116.00 and set an “overweight” rating for the company in a report on Wednesday, March 27th. Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of NIKE in a report on Tuesday, April 30th. Finally, Evercore ISI lowered their price target on NIKE from $127.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.26.

NIKE Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74. The company has a market cap of $139.09 billion, a price-to-earnings ratio of 27.10, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The business has a 50-day simple moving average of $95.73 and a 200-day simple moving average of $103.05.

NIKE (NYSE:NKE) last announced 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 net margin of 10.14% and a return on equity of 39.41%. The company had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. On average, equities analysts anticipate that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a $0.37 dividend. The ex-dividend date is Monday, June 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.61%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Institutional Trading of NIKE

A number of hedge funds and other institutional investors have recently made changes to their positions in NKE. Concord Wealth Partners increased its stake in NIKE by 900.0% in the third quarter. Concord Wealth Partners now owns 1,690 shares of the footwear maker’s stock valued at $162,000 after purchasing an additional 1,521 shares during the period. Vision Capital Management Inc. raised its stake in NIKE by 1.6% during the 3rd quarter. Vision Capital Management Inc. now owns 83,241 shares of the footwear maker’s stock valued at $7,960,000 after acquiring an additional 1,322 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in NIKE by 15.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,028 shares of the footwear maker’s stock worth $385,000 after acquiring an additional 525 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of NIKE by 3.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 524,548 shares of the footwear maker’s stock valued at $50,157,000 after purchasing an additional 17,322 shares during the last quarter. Finally, BluePath Capital Management LLC acquired a new position in shares of NIKE in the third quarter valued at approximately $130,000. Institutional investors and hedge funds 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.