NIKE (NYSE:NKE) Rating Increased to Buy at DZ Bank

DZ Bank upgraded shares of NIKE (NYSE:NKE) from a neutral rating to a buy rating in a report published on Wednesday,MarketScreener Latest Ratings reports.

NKE has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on shares of NIKE from $93.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday. Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating in a research note on Wednesday, September 10th. Evercore ISI reduced their price objective on shares of NIKE from $97.00 to $75.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. Hsbc Global Res upgraded shares of NIKE from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 27th. Finally, TD Cowen upgraded shares of NIKE from a “hold” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $85.00 in a research note on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.26.

NIKE Trading Up 6.2%

NYSE:NKE opened at $74.04 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21. The firm has a market cap of $109.35 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 2.60 and a beta of 1.29. NIKE has a 52 week low of $52.28 and a 52 week high of $85.23. The firm has a 50-day moving average price of $74.73 and a two-hundred day moving average price of $67.31.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, September 30th. The footwear maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.27 by $0.22. The firm had revenue of $11.72 billion during the quarter, compared to analyst estimates of $10.96 billion. NIKE had a net margin of 6.23% and a return on equity of 21.05%. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. On average, equities analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. NIKE’s payout ratio is currently 74.07%.

Insider Activity

In other news, Chairman Mark G. Parker sold 86,078 shares of NIKE stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $75.93, for a total transaction of $6,535,902.54. Following the completion of the sale, the chairman directly owned 744,988 shares of the company’s stock, valued at approximately $56,566,938.84. The trade was a 10.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.80% of the company’s stock.

Institutional Trading of NIKE

Hedge funds have recently added to or reduced their stakes in the business. Stone House Investment Management LLC bought a new stake in NIKE in the first quarter worth $25,000. Mascoma Wealth Management LLC bought a new stake in NIKE in the second quarter worth $26,000. Halbert Hargrove Global Advisors LLC lifted its stake in NIKE by 952.6% in the second quarter. Halbert Hargrove Global Advisors LLC now owns 400 shares of the footwear maker’s stock worth $28,000 after purchasing an additional 362 shares during the last quarter. Saudi Central Bank bought a new position in shares of NIKE during the first quarter valued at about $30,000. Finally, Matrix Trust Co raised its stake in shares of NIKE by 53.1% during the second quarter. Matrix Trust Co now owns 441 shares of the footwear maker’s stock valued at $31,000 after acquiring an additional 153 shares during the last quarter. 64.25% of the stock is owned by institutional investors.

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.