Deutsche Bank Aktiengesellschaft Lowers NIKE (NYSE:NKE) Price Target to $82.00

NIKE (NYSE:NKE) had its price objective cut by Deutsche Bank Aktiengesellschaft from $92.00 to $82.00 in a report issued on Monday morning,Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

A number of other research analysts have also recently weighed in on NKE. Bank of America lowered their price objective on NIKE from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Wells Fargo & Company lifted their price objective on NIKE from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Telsey Advisory Group lowered their price target on NIKE from $96.00 to $93.00 and set an “outperform” rating on the stock in a report on Monday. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Finally, Guggenheim lowered their price target on NIKE from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, October 2nd. Fourteen research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $93.15.

NIKE Trading Down 0.1 %

NIKE stock opened at $77.21 on Monday. NIKE has a 52-week low of $70.75 and a 52-week high of $123.39. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The company has a market cap of $115.77 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.93 and a beta of 1.02. The business has a 50-day simple moving average of $78.44 and a two-hundred day simple moving average of $80.95.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The firm had revenue of $11.59 billion for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm earned $0.94 EPS. The business’s quarterly revenue was down 10.4% on a year-over-year basis. Analysts predict that NIKE will post 2.73 EPS for the current year.

NIKE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Monday, December 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is currently 45.85%.

Hedge Funds Weigh In On NIKE

Several large investors have recently modified their holdings of the stock. Garrison Point Advisors LLC grew its position in NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock valued at $593,000 after acquiring an additional 126 shares during the last quarter. Stephens Consulting LLC grew its position in NIKE by 20.0% in the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after acquiring an additional 128 shares during the last quarter. PSI Advisors LLC grew its position in NIKE by 26.3% in the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after acquiring an additional 130 shares during the last quarter. Chapin Davis Inc. grew its position in NIKE by 1.2% in the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after acquiring an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its position in NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after acquiring an additional 133 shares during the last quarter. 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.