NIKE (NYSE:NKE) Price Target Cut to $92.00

NIKE (NYSE:NKE) had its price objective cut by Deutsche Bank Aktiengesellschaft from $95.00 to $92.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

Other research analysts have also recently issued research reports about the company. Telsey Advisory Group decreased their target price on NIKE from $100.00 to $96.00 and set an outperform rating on the stock in a research report on Wednesday. Sanford C. Bernstein lowered their price objective on shares of NIKE from $112.00 to $109.00 and set an outperform rating for the company in a research report on Thursday, September 19th. Raymond James restated a market perform rating on shares of NIKE in a research report on Friday, June 28th. Oppenheimer reiterated an outperform rating and set a $120.00 price target on shares of NIKE in a report on Friday, June 28th. Finally, Stifel Nicolaus cut their price objective on NIKE from $88.00 to $79.00 and set a hold rating on the stock in a report on Monday, August 26th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $96.04.

NIKE Price Performance

NKE stock opened at $83.10 on Wednesday. The company’s 50-day moving average price is $80.50 and its two-hundred day moving average price is $86.39. NIKE has a 12 month low of $70.75 and a 12 month high of $123.39. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. The firm has a market cap of $125.43 billion, a P/E ratio of 22.28, a P/E/G ratio of 2.30 and a beta of 1.02.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a net margin of 11.10% and a return on equity of 42.63%. The company’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 earnings per share. On average, analysts anticipate that NIKE will post 3.04 earnings per share for the current fiscal year.

NIKE Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were given a dividend of $0.37 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.78%. NIKE’s payout ratio is presently 39.68%.

Insiders Place Their Bets

In other news, Chairman Mark G. Parker sold 52,487 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now owns 1,031,226 shares in the company, valued at $80,435,628. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Mark G. Parker sold 52,487 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the completion of the sale, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at approximately $80,435,628. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Mark G. Parker sold 110,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the transaction, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Trading of NIKE

Hedge funds have recently bought and sold shares of the business. Ables Iannone Moore & Associates Inc. bought a new position in shares of NIKE in the third quarter valued at $293,000. Jacobs & Co. CA raised its holdings in shares of NIKE by 8.5% in the 3rd quarter. Jacobs & Co. CA now owns 150,818 shares of the footwear maker’s stock worth $13,332,000 after acquiring an additional 11,877 shares during the last quarter. Mattson Financial Services LLC bought a new position in NIKE in the 2nd quarter valued at about $887,000. Centaurus Financial Inc. boosted its stake in NIKE by 180.8% during the 2nd quarter. Centaurus Financial Inc. now owns 4,490 shares of the footwear maker’s stock valued at $338,000 after purchasing an additional 2,891 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in NIKE by 625.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 76,900 shares of the footwear maker’s stock worth $5,796,000 after purchasing an additional 66,299 shares in the last quarter. 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.