NIKE (NYSE:NKE) Stock Price Down 0.2%

Shares of NIKE, Inc. (NYSE:NKE) dropped 0.2% during trading on Tuesday . The stock traded as low as $91.65 and last traded at $92.96. Approximately 2,188,192 shares changed hands during trading, a decline of 77% from the average daily volume of 9,461,733 shares. The stock had previously closed at $93.10.

Wall Street Analysts Forecast Growth

NKE has been the topic of several analyst reports. Truist Financial restated a “hold” rating and set a $111.00 price target on shares of NIKE in a research report on Tuesday, March 19th. Wells Fargo & Company dropped their target price on shares of NIKE from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of NIKE in a research report on Wednesday, March 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of NIKE from $132.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, December 22nd. Finally, Piper Sandler dropped their target price on shares of NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Two research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $116.26.

NIKE Stock Performance

The firm’s 50-day moving average is $98.47 and its 200 day moving average is $103.42. The stock has a market cap of $143.15 billion, a PE ratio of 27.89, a P/E/G ratio of 1.80 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.89 and a current ratio of 2.74.

NIKE (NYSE:NKE) last released 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 firm had revenue of $12.43 billion during the quarter, compared to the consensus estimate of $12.28 billion. As a group, research analysts anticipate that NIKE, Inc. will post 3.73 EPS for the current year.

NIKE Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 4th were given a $0.37 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a yield of 1.56%. NIKE’s dividend payout ratio (DPR) is 43.53%.

Institutional Trading of NIKE

Several institutional investors and hedge funds have recently bought and sold shares of NKE. Vanguard Group Inc. raised its position in NIKE by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 109,543,029 shares of the footwear maker’s stock worth $11,893,087,000 after buying an additional 1,698,423 shares during the last quarter. Morgan Stanley raised its position in NIKE by 26.4% during the 4th quarter. Morgan Stanley now owns 30,720,119 shares of the footwear maker’s stock worth $3,594,561,000 after buying an additional 6,410,744 shares during the last quarter. Capital International Investors raised its position in NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock worth $2,997,628,000 after buying an additional 7,143,775 shares during the last quarter. Alliancebernstein L.P. raised its position in NIKE by 7.2% during the 2nd quarter. Alliancebernstein L.P. now owns 22,371,886 shares of the footwear maker’s stock worth $2,469,185,000 after buying an additional 1,493,704 shares during the last quarter. Finally, FMR LLC raised its position in NIKE by 0.7% during the 3rd quarter. FMR LLC now owns 18,502,409 shares of the footwear maker’s stock worth $1,769,200,000 after buying an additional 125,746 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.