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

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

A number of other equities analysts also recently commented on NKE. Daiwa America downgraded NIKE from a moderate buy rating to a hold rating in a research report on Wednesday, September 11th. Evercore ISI dropped their price objective on shares of NIKE from $110.00 to $105.00 and set an outperform rating on the stock in a research report on Friday, June 28th. Telsey Advisory Group reduced their price objective on shares of NIKE from $115.00 to $100.00 and set an outperform rating on the stock in a report on Friday, June 28th. Barclays increased their target price on NIKE from $80.00 to $84.00 and gave the company an equal weight rating in a report on Wednesday. Finally, Truist Financial cut their price target on NIKE from $99.00 to $81.00 and set a hold rating on the stock in a research note on Friday, June 28th. Fifteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, NIKE currently has an average rating of Moderate Buy and an average price target of $96.15.

NIKE Trading Up 6.9 %

NYSE NKE opened at $86.55 on Friday. 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 firm has a market cap of $130.64 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The firm has a 50 day simple moving average of $78.11 and a 200-day simple moving average of $87.14. NIKE has a one year low of $70.75 and a one year high of $123.39.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, June 27th. The footwear maker reported $1.01 EPS for the quarter, topping the consensus estimate of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to the consensus estimate of $12.86 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Equities research analysts anticipate that NIKE will post 3.06 EPS for the current fiscal year.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Tuesday, September 3rd. NIKE’s dividend payout ratio is presently 39.68%.

Insider Buying and Selling at NIKE

In other news, 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 transaction of $8,026,700.00. Following the completion of the sale, the chairman now owns 1,102,090 shares in the company, valued at $80,419,507.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NIKE news, Director Robert Holmes Swan bought 2,941 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average price of $77.02 per share, for a total transaction of $226,515.82. Following the transaction, the director now owns 20,946 shares of the company’s stock, valued at approximately $1,613,260.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 110,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now directly owns 1,102,090 shares of the company’s stock, valued at $80,419,507.30. The disclosure for this sale can be found here. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted 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 worth $1,860,395,000 after purchasing an additional 7,996,434 shares in the last quarter. Capital International Investors lifted its stake in shares of NIKE by 34.9% in the fourth quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after purchasing an additional 7,143,775 shares during the period. Longview Partners Guernsey LTD purchased a new stake in NIKE during the first quarter worth about $533,533,000. Capital World Investors grew its position in NIKE by 612.2% during the first quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock worth $487,327,000 after buying an additional 4,457,376 shares during the period. Finally, Jennison Associates LLC increased its holdings in NIKE by 45.6% in the first 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 in the last quarter. Institutional investors and hedge funds 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.