NIKE (NYSE:NKE) Price Target Cut to $82.00 by Analysts at Deutsche Bank Aktiengesellschaft

NIKE (NYSE:NKE) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $92.00 to $82.00 in a research report report published on Monday,Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the footwear maker’s stock.

Other equities analysts also recently issued reports about the stock. Wells Fargo & Company upped their price target on shares of NIKE from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bank of America dropped their target price on NIKE from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. Guggenheim reduced their price target on NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a report on Wednesday, October 2nd. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and increased their price objective for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Finally, TD Cowen decreased their target price on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research report on Monday, November 18th. Fourteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.15.

NIKE Trading Down 1.4 %

Shares of NYSE NKE opened at $76.90 on Monday. The company has a current ratio of 2.36, a quick ratio of 1.58 and a debt-to-equity ratio of 0.57. NIKE has a one year low of $70.75 and a one year high of $123.39. The business has a 50-day moving average price of $78.28 and a two-hundred day moving average price of $80.80. The firm has a market capitalization of $115.30 billion, a PE ratio of 22.03, a PEG ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.94 earnings per share. As a group, analysts predict that NIKE will post 2.72 earnings per share for the current fiscal year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from NIKE’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. NIKE’s dividend payout ratio is 45.85%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Denver PWM LLC raised its holdings in NIKE by 9.7% in the 3rd quarter. Denver PWM LLC now owns 2,574 shares of the footwear maker’s stock valued at $228,000 after acquiring an additional 227 shares in the last quarter. Tidal Investments LLC increased its position in shares of NIKE by 65.4% during the third quarter. Tidal Investments LLC now owns 105,571 shares of the footwear maker’s stock valued at $9,332,000 after purchasing an additional 41,752 shares during the period. Soltis Investment Advisors LLC raised its stake in shares of NIKE by 12.2% in the third quarter. Soltis Investment Advisors LLC now owns 36,010 shares of the footwear maker’s stock valued at $3,183,000 after purchasing an additional 3,918 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in NIKE by 8.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 265,449 shares of the footwear maker’s stock worth $23,466,000 after purchasing an additional 20,043 shares during the period. Finally, Toronto Dominion Bank boosted its stake in NIKE by 59.9% during the third quarter. Toronto Dominion Bank now owns 1,055,597 shares of the footwear maker’s stock worth $93,315,000 after buying an additional 395,434 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.