Deutsche Bank Aktiengesellschaft Cuts NIKE (NYSE:NKE) Price Target to $82.00

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

NKE has been the topic of several other research reports. Jefferies Financial Group raised their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. JPMorgan Chase & Co. reduced their price target on shares of NIKE from $77.00 to $73.00 and set a “neutral” rating for the company in a report on Monday, December 2nd. Robert W. Baird increased their price objective on shares of NIKE from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Needham & Company LLC initiated coverage on shares of NIKE in a research report on Friday, November 22nd. They issued a “buy” rating and a $84.00 price objective on the stock. Finally, Stifel Nicolaus decreased their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating for the company in a research report on Monday, August 26th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, NIKE currently has an average rating of “Moderate Buy” and an average price target of $93.15.

NIKE Stock Down 1.4 %

Shares of NYSE:NKE opened at $76.90 on Monday. The company’s fifty day moving average is $78.28 and its two-hundred day moving average is $80.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. NIKE has a 1-year low of $70.75 and a 1-year high of $123.39. The stock has a market capitalization of $115.30 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.

NIKE (NYSE:NKE) last released its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.18. NIKE had a net margin of 10.60% and a return on equity of 39.84%. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. NIKE’s quarterly revenue was down 10.4% on a year-over-year basis. Equities analysts anticipate that NIKE will post 2.72 EPS for the current 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 represents a $1.60 annualized dividend and a dividend yield of 2.08%. This is a boost from NIKE’s previous quarterly dividend of $0.37. NIKE’s dividend payout ratio is currently 45.85%.

Institutional Investors Weigh In On NIKE

A number of institutional investors and hedge funds have recently modified their holdings of NKE. Garrison Point Advisors LLC raised its position in shares of NIKE by 1.9% during the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after purchasing an additional 126 shares during the period. Stephens Consulting LLC raised its holdings in NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock worth $68,000 after buying an additional 128 shares during the period. PSI Advisors LLC lifted its stake in NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after buying an additional 130 shares in the last quarter. Chapin Davis Inc. lifted its stake in NIKE by 1.2% during the third quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after buying an additional 133 shares in the last quarter. Finally, Meridian Financial Partners LLC boosted its holdings in shares of NIKE by 1.6% in the third quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock worth $742,000 after buying an additional 133 shares during the period. Institutional investors and hedge funds own 64.25% of the company’s stock.

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.