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

Deutsche Bank Aktiengesellschaft reissued their buy rating on shares of NIKE (NYSE:NKE) in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a $92.00 price target on the footwear maker’s stock.

A number of other research analysts have also commented on the company. Royal Bank of Canada lowered their price target on NIKE from $100.00 to $75.00 and set a sector perform rating on the stock in a report on Tuesday, July 2nd. BMO Capital Markets decreased their target price on shares of NIKE from $118.00 to $100.00 and set an outperform rating for the company in a research report on Friday, June 28th. Bank of America dropped their price target on shares of NIKE from $113.00 to $104.00 and set a buy rating on the stock in a research report on Friday, June 28th. Wedbush decreased their price objective on shares of NIKE from $115.00 to $97.00 and set an outperform rating for the company in a report on Friday, June 28th. Finally, Citigroup lowered their price objective on shares of NIKE from $115.00 to $102.00 and set a buy 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. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $96.15.

NIKE Trading Up 6.8 %

NKE opened at $86.52 on Friday. The stock has a market capitalization of $130.59 billion, a PE ratio of 23.20, a P/E/G ratio of 2.08 and a beta of 1.02. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.40 and a quick ratio of 1.69. NIKE has a 12-month low of $70.75 and a 12-month high of $123.39. The firm’s fifty day moving average price is $78.11 and its 200 day moving average price is $86.99.

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

NIKE Dividend Announcement

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

Insider Transactions at NIKE

In other NIKE news, Director Robert Holmes Swan acquired 2,941 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now directly owns 20,946 shares of the company’s stock, valued at $1,613,260.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the completion of the transaction, the chairman now owns 1,031,226 shares in the company, valued at approximately $80,435,628. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan bought 2,941 shares of NIKE stock in a transaction dated Friday, June 28th. The stock was purchased at an average price of $77.02 per share, with a total value of $226,515.82. Following the purchase, the director now owns 20,946 shares in the company, valued at $1,613,260.92. The disclosure for this purchase can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NKE. 9258 Wealth Management LLC raised its holdings in shares of NIKE by 23.9% in the 4th quarter. 9258 Wealth Management LLC now owns 4,366 shares of the footwear maker’s stock valued at $474,000 after acquiring an additional 842 shares in the last quarter. Gryphon Financial Partners LLC grew its stake in shares of NIKE by 34.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 11,598 shares of the footwear maker’s stock valued at $1,259,000 after buying an additional 2,981 shares during the last quarter. TrinityPoint Wealth LLC increased its stake in NIKE by 0.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 21,561 shares of the footwear maker’s stock worth $2,341,000 after purchasing an additional 166 shares during the period. GW&K Investment Management LLC increased its stake in shares of NIKE by 26.4% in the fourth quarter. GW&K Investment Management LLC now owns 604 shares of the footwear maker’s stock worth $66,000 after buying an additional 126 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of NIKE by 6.5% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 126,803 shares of the footwear maker’s stock worth $13,767,000 after purchasing an additional 7,769 shares during the period. 64.25% of the stock is currently owned by hedge funds and other 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.