Deutsche Bank Aktiengesellschaft Cuts NIKE (NYSE:NKE) Price Target to $92.00

NIKE (NYSE:NKE) had its target price decreased by Deutsche Bank Aktiengesellschaft from $95.00 to $92.00 in a report issued on Wednesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the footwear maker’s stock.

NKE has been the subject of a number of other research reports. Oppenheimer restated an outperform rating and issued a $120.00 price objective on shares of NIKE in a research report on Friday, June 28th. TD Cowen lifted their price target on shares of NIKE from $71.00 to $78.00 and gave the company a hold rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $80.00 to $77.00 and set a neutral rating for the company in a research report on Wednesday. Guggenheim reduced their price target on shares of NIKE from $115.00 to $110.00 and set a buy rating for the company in a research report on Wednesday. Finally, StockNews.com cut shares of NIKE from a buy rating to a hold rating in a research note on Friday, June 21st. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $96.04.

NIKE Stock Performance

NYSE NKE opened at $82.26 on Wednesday. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market cap of $124.15 billion, a P/E ratio of 22.05, a P/E/G ratio of 2.30 and a beta of 1.02. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The business’s 50-day moving average price is $80.90 and its 200 day moving average price is $86.24.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The firm’s revenue was down 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. On average, equities research analysts expect that NIKE will post 3.04 earnings per share for the current year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 annualized dividend and a dividend yield of 1.80%. NIKE’s payout ratio is 39.68%.

Insiders Place Their Bets

In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total value of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $72.97, for a total value of $8,026,700.00. Following the sale, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the sale, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently modified their holdings of NKE. Price T Rowe Associates Inc. MD grew its position in shares of NIKE by 87.5% during the 4th 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 buying an additional 7,996,434 shares during the last quarter. Longview Partners Guernsey LTD bought a new stake in shares of NIKE during the 1st quarter valued at about $533,533,000. Capital World Investors grew its position in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares during the last quarter. Jennison Associates LLC grew its position in shares of NIKE by 45.6% during the 1st quarter. Jennison Associates LLC now owns 8,859,580 shares of the footwear maker’s stock valued at $832,623,000 after buying an additional 2,775,510 shares during the last quarter. Finally, PineStone Asset Management Inc. grew its position in shares of NIKE by 138.3% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,715,689 shares of the footwear maker’s stock valued at $204,681,000 after buying an additional 1,576,049 shares during the last quarter. Institutional investors 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.