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

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

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group dropped their price objective on shares of NIKE from $118.00 to $105.00 and set a buy rating for the company in a research report on Friday, June 28th. Stifel Nicolaus dropped their target price on NIKE from $88.00 to $79.00 and set a hold rating for the company in a research report on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on shares of NIKE from $80.00 to $77.00 and set a neutral rating on the stock in a research note on Wednesday. Piper Sandler reaffirmed a neutral rating and set a $80.00 price objective on shares of NIKE in a research note on Friday, September 20th. Finally, Morgan Stanley upped their target price on shares of NIKE from $79.00 to $82.00 and gave the company an equal weight rating in a research note on Wednesday, September 25th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, NIKE currently has an average rating of Moderate Buy and a consensus price target of $96.04.

NIKE Price Performance

Shares of NKE stock opened at $83.10 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. The stock’s fifty day simple moving average is $80.50 and its 200 day simple moving average is $86.39. NIKE has a one year low of $70.75 and a one year high of $123.39. The firm has a market cap of $125.43 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 2.30 and a beta of 1.02.

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

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date was Tuesday, September 3rd. NIKE’s dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In related news, Chairman Mark G. Parker sold 110,000 shares of NIKE stock in a transaction dated 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 completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction on 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 transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The disclosure for this sale can be found here. 0.50% of the stock is owned by insiders.

Institutional Investors Weigh In On NIKE

A number of institutional investors have recently made changes to their positions in the company. Annapolis Financial Services LLC lifted its holdings in shares of NIKE by 440.0% during the first quarter. Annapolis Financial Services LLC now owns 270 shares of the footwear maker’s stock worth $25,000 after buying an additional 220 shares in the last quarter. True Wealth Design LLC raised its stake in NIKE by 106.4% in the 4th quarter. True Wealth Design LLC now owns 291 shares of the footwear maker’s stock worth $32,000 after purchasing an additional 150 shares in the last quarter. Frank Rimerman Advisors LLC bought a new stake in NIKE in the 4th quarter valued at about $33,000. Core Wealth Advisors Inc. grew its position in shares of NIKE by 408.5% during the 4th quarter. Core Wealth Advisors Inc. now owns 300 shares of the footwear maker’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Finally, Pineridge Advisors LLC bought a new position in shares of NIKE during the fourth quarter worth approximately $38,000. 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.