NIKE (NYSE:NKE) Shares Up 0.5%

NIKE, Inc. (NYSE:NKE) shot up 0.5% during mid-day trading on Tuesday . The stock traded as high as $94.72 and last traded at $94.64. 1,858,326 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 9,499,628 shares. The stock had previously closed at $94.19.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NKE. Bank of America upgraded shares of NIKE from a “neutral” rating to a “buy” rating and increased their target price for the stock from $110.00 to $113.00 in a research note on Thursday, April 11th. Truist Financial reiterated a “hold” rating and set a $111.00 target price on shares of NIKE in a research note on Tuesday, March 19th. UBS Group decreased their target price on shares of NIKE from $138.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. TheStreet downgraded shares of NIKE from a “b” rating to a “c+” rating in a research note on Tuesday, January 9th. Finally, Williams Trading reiterated a “sell” rating and set a $85.00 target price (down previously from $92.00) on shares of NIKE in a research note on Monday, March 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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 stock’s fifty day simple moving average is $97.39 and its 200-day simple moving average is $103.38. The company has a market capitalization of $142.85 billion, a PE ratio of 27.84, a PEG ratio of 1.81 and a beta of 1.08.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 21st. The footwear maker reported $0.98 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts predict that NIKE, Inc. will post 3.73 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors 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 1.56%. The ex-dividend date of this dividend was Friday, March 1st. NIKE’s dividend payout ratio is presently 43.53%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Peterson Financial Group Inc. lifted its stake in shares of NIKE by 50.8% during the first quarter. Peterson Financial Group Inc. now owns 22,847 shares of the footwear maker’s stock valued at $2,147,000 after buying an additional 7,695 shares during the period. Telos Capital Management Inc. lifted its stake in shares of NIKE by 15.3% during the 1st quarter. Telos Capital Management Inc. now owns 51,157 shares of the footwear maker’s stock worth $4,808,000 after purchasing an additional 6,770 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of NIKE by 2.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 130,411 shares of the footwear maker’s stock worth $12,256,000 after purchasing an additional 3,608 shares during the period. Krilogy Financial LLC boosted its holdings in shares of NIKE by 13.8% during the first quarter. Krilogy Financial LLC now owns 22,284 shares of the footwear maker’s stock worth $2,094,000 after purchasing an additional 2,699 shares during the last quarter. Finally, PSI Advisors LLC grew its position in shares of NIKE by 68.7% in the first quarter. PSI Advisors LLC now owns 393 shares of the footwear maker’s stock valued at $37,000 after purchasing an additional 160 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

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.