NIKE (NYSE:NKE) Price Target Cut to $71.00 by Analysts at Deutsche Bank Aktiengesellschaft

NIKE (NYSE:NKE) had its price objective lowered by Deutsche Bank Aktiengesellschaft from $77.00 to $71.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the footwear maker’s stock.

Several other analysts have also recently issued reports on NKE. Barclays lowered their target price on shares of NIKE from $60.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Berenberg Bank initiated coverage on shares of NIKE in a research report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price objective on the stock. Cfra Research upgraded shares of NIKE to a “moderate buy” rating in a research report on Friday, March 21st. BMO Capital Markets lowered their price objective on shares of NIKE from $95.00 to $92.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Finally, Wells Fargo & Company raised their price objective on shares of NIKE from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Seventeen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average target price of $78.74.

NIKE Stock Performance

NYSE NKE opened at $59.78 on Friday. NIKE has a 1 year low of $52.28 and a 1 year high of $98.04. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.19 and a quick ratio of 1.52. The stock has a market capitalization of $88.41 billion, a PE ratio of 19.86, a P/E/G ratio of 2.10 and a beta of 1.21. The company’s 50 day simple moving average is $59.78 and its two-hundred day simple moving average is $68.09.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.26. NIKE had a net margin of 9.43% and a return on equity of 32.18%. The business had revenue of $11.27 billion for the quarter, compared to analysts’ expectations of $11.02 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. Analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Monday, June 2nd. NIKE’s payout ratio is 53.16%.

Insider Activity

In related news, Director Robert Holmes Swan bought 8,600 shares of the business’s stock in a transaction dated Friday, April 4th. The shares were purchased at an average price of $58.46 per share, with a total value of $502,756.00. Following the purchase, the director now owns 31,983 shares of the company’s stock, valued at approximately $1,869,726.18. This trade represents a 36.78% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of large investors have recently modified their holdings of the stock. Heck Capital Advisors LLC bought a new stake in NIKE during the fourth quarter worth about $28,000. Stone House Investment Management LLC bought a new stake in NIKE during the first quarter worth about $25,000. LFA Lugano Financial Advisors SA boosted its stake in NIKE by 110.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Hopwood Financial Services Inc. bought a new stake in NIKE during the fourth quarter worth about $30,000. Finally, EnRich Financial Partners LLC boosted its stake in NIKE by 196.4% during the fourth quarter. EnRich Financial Partners LLC now owns 412 shares of the footwear maker’s stock worth $31,000 after acquiring an additional 273 shares in 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.