NIKE (NYSE:NKE) Receives “Buy” Rating from Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reiterated their buy rating on shares of NIKE (NYSE:NKE) in a research note published on Friday, Benzinga reports. They currently have a $92.00 price target on the footwear maker’s stock.

A number of other equities research analysts also recently issued reports on the company. The Goldman Sachs Group lowered their price objective on NIKE from $118.00 to $105.00 and set a buy rating on the stock in a research report on Friday, June 28th. JPMorgan Chase & Co. reissued a neutral rating and set a $83.00 price objective (down previously from $116.00) on shares of NIKE in a report on Friday, June 28th. Morgan Stanley restated an equal weight rating and issued a $79.00 price objective (down from $114.00) on shares of NIKE in a research report on Friday, June 28th. Telsey Advisory Group dropped their target price on shares of NIKE from $115.00 to $100.00 and set an outperform rating for the company in a research report on Friday, June 28th. Finally, Wells Fargo & Company cut their price target on shares of NIKE from $115.00 to $92.00 and set an overweight rating for the company in a research note on Friday, June 28th. Fifteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $96.04.

NIKE Stock Down 0.4 %

NKE stock opened at $86.19 on Friday. The stock has a 50-day simple moving average of $78.40 and a two-hundred day simple moving average of $86.90. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39. The firm has a market capitalization of $130.08 billion, a PE ratio of 23.11, a PEG ratio of 2.08 and a beta of 1.02. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, beating the consensus estimate of $0.85 by $0.16. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. NIKE’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities analysts predict that NIKE will post 3.06 EPS for the current fiscal year.

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 1.72%. NIKE’s dividend payout ratio is presently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total transaction of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now owns 1,102,090 shares in the company, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On NIKE

Hedge funds have recently made changes to their positions in the company. Annapolis Financial Services LLC lifted its position in NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock valued at $25,000 after buying an additional 220 shares during the period. True Wealth Design LLC boosted its stake in NIKE by 106.4% during the fourth quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after acquiring an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC purchased a new stake in NIKE in the fourth quarter worth about $33,000. Core Wealth Advisors Inc. increased its stake in shares of NIKE by 408.5% during the fourth quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Gold Investment Management Ltd. purchased a new position in shares of NIKE during the fourth quarter valued at approximately $36,000. 64.25% of the stock is currently owned by 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.