NIKE (NYSE:NKE) Price Target Cut to $54.00 by Analysts at Deutsche Bank Aktiengesellschaft

NIKE (NYSE:NKE) had its price target decreased by Deutsche Bank Aktiengesellschaft from $67.00 to $54.00 in a research note released on Monday morning,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the footwear maker’s stock.

Several other equities analysts have also issued reports on NKE. Piper Sandler set a $75.00 price target on NIKE and gave the company an “overweight” rating in a research note on Friday, December 19th. Wells Fargo & Company set a $65.00 price objective on NIKE and gave the stock an “overweight” rating in a research report on Friday, December 19th. Berenberg Bank reissued a “neutral” rating and set a $70.00 price objective on shares of NIKE in a report on Friday, December 19th. Raymond James Financial restated a “market perform” rating on shares of NIKE in a research report on Monday, December 15th. Finally, Citigroup restated a “neutral” rating and issued a $65.00 target price (down from $70.00) on shares of NIKE in a research note on Friday, December 19th. Twenty-two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $73.43.

NIKE Stock Up 0.6%

Shares of NKE opened at $52.69 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.40 and a current ratio of 2.06. The company has a 50-day simple moving average of $61.18 and a 200-day simple moving average of $64.57. NIKE has a 52 week low of $52.17 and a 52 week high of $80.17. The firm has a market capitalization of $78.01 billion, a P/E ratio of 31.00, a P/E/G ratio of 2.68 and a beta of 1.27.

NIKE Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, March 2nd. NIKE’s payout ratio is presently 96.47%.

Insider Buying and Selling at NIKE

In related news, CEO Elliott Hill bought 16,388 shares of the company’s stock in a transaction dated Monday, December 29th. The stock was acquired at an average cost of $61.10 per share, with a total value of $1,001,306.80. Following the acquisition, the chief executive officer owned 241,587 shares in the company, valued at approximately $14,760,965.70. This represents a 7.28% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On NIKE

Several hedge funds and other institutional investors have recently modified their holdings of NKE. Cornerstone Financial Management LLC bought a new position in shares of NIKE during the fourth quarter valued at $26,000. Sankala Group LLC bought a new stake in shares of NIKE in the 4th quarter worth about $26,000. J.Safra Asset Management Corp bought a new stake in shares of NIKE in the 4th quarter worth about $29,000. Kemnay Advisory Services Inc. acquired a new stake in shares of NIKE during the 4th quarter worth about $30,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of NIKE during the 2nd quarter worth about $31,000. Institutional investors own 64.25% of the company’s stock.

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).