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

NIKE (NYSE:NKE) had its price objective cut by Deutsche Bank Aktiengesellschaft from $115.00 to $92.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

A number of other brokerages also recently weighed in on NKE. KeyCorp restated a sector weight rating on shares of NIKE in a research note on Friday, June 28th. Wedbush dropped their price objective on NIKE from $115.00 to $97.00 and set an outperform rating on the stock in a research note on Friday, June 28th. TD Cowen dropped their price objective on NIKE from $89.00 to $75.00 and set a hold rating on the stock in a research note on Friday, June 28th. JPMorgan Chase & Co. reiterated a neutral rating and issued a $83.00 price objective (down previously from $116.00) on shares of NIKE in a research note on Friday, June 28th. Finally, BMO Capital Markets dropped their price objective on NIKE from $118.00 to $100.00 and set an outperform rating on the stock in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of Hold and a consensus target price of $97.19.

NIKE Stock Performance

Shares of NKE opened at $75.44 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40. The stock has a 50 day moving average price of $91.81 and a two-hundred day moving average price of $97.90. The firm has a market capitalization of $113.87 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.85 and a beta of 1.01. NIKE has a 52 week low of $74.29 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same period in the previous year, the company posted $0.66 EPS. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts forecast that NIKE will post 3.29 earnings per share for the current fiscal year.

NIKE Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Monday, June 3rd. NIKE’s dividend payout ratio is 39.68%.

Insider Buying and Selling at NIKE

In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $77.02 per share, with a total value of $226,515.82. Following the completion of the purchase, the director now owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 213,660 shares of company stock valued at $19,946,333. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Several institutional investors and hedge funds have recently made changes to their positions in the company. Piscataqua Savings Bank increased its position in shares of NIKE by 2.1% during the fourth quarter. Piscataqua Savings Bank now owns 4,861 shares of the footwear maker’s stock valued at $528,000 after acquiring an additional 100 shares in the last quarter. Physicians Financial Services Inc. boosted its holdings in NIKE by 0.6% in the fourth quarter. Physicians Financial Services Inc. now owns 16,077 shares of the footwear maker’s stock worth $1,745,000 after purchasing an additional 100 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its holdings in NIKE by 4.0% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 2,599 shares of the footwear maker’s stock worth $282,000 after purchasing an additional 100 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in NIKE by 0.4% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 25,568 shares of the footwear maker’s stock worth $2,776,000 after purchasing an additional 100 shares during the last quarter. Finally, Claro Advisors LLC boosted its holdings in NIKE by 0.8% in the fourth quarter. Claro Advisors LLC now owns 12,227 shares of the footwear maker’s stock worth $1,327,000 after purchasing an additional 101 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.