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

NIKE (NYSE:NKE) had its target price cut by Deutsche Bank Aktiengesellschaft from $92.00 to $82.00 in a research report released on Monday morning,Benzinga reports. They currently have a buy rating on the footwear maker’s stock.

A number of other equities analysts also recently commented on NKE. Truist Financial upgraded NIKE from a “hold” rating to a “buy” rating and upped their target price for the company from $83.00 to $97.00 in a report on Thursday, October 10th. Bank of America decreased their target price on NIKE from $100.00 to $95.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Daiwa America downgraded NIKE from a “moderate buy” rating to a “hold” rating in a report on Wednesday, September 11th. Royal Bank of Canada decreased their target price on NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, November 7th. Finally, Jefferies Financial Group increased their price objective on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a report on Monday, September 30th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.15.

NIKE Stock Performance

Shares of NKE stock opened at $77.21 on Monday. 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 fifty-two week low of $70.75 and a fifty-two week high of $123.39. The stock has a 50 day moving average price of $78.44 and a two-hundred day moving average price of $80.95. The company has a market capitalization of $115.77 billion, a P/E ratio of 22.12, a PEG ratio of 1.93 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 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion during the quarter, compared to the consensus estimate of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share. Analysts expect that NIKE will post 2.73 earnings per share for the current year.

NIKE Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.07%. This is an increase from NIKE’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, December 2nd. NIKE’s dividend payout ratio (DPR) is presently 45.85%.

Institutional Investors Weigh In On NIKE

Several large investors have recently bought and sold shares of the business. Garrison Point Advisors LLC increased its holdings in NIKE by 1.9% in the 3rd quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker’s stock worth $593,000 after buying an additional 126 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of NIKE by 20.0% during the 3rd quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker’s stock valued at $68,000 after purchasing an additional 128 shares during the period. PSI Advisors LLC grew its stake in shares of NIKE by 26.3% during the 3rd quarter. PSI Advisors LLC now owns 624 shares of the footwear maker’s stock valued at $55,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. grew its stake in shares of NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker’s stock valued at $1,010,000 after purchasing an additional 133 shares during the period. Finally, Meridian Financial Partners LLC grew its stake in shares of NIKE by 1.6% during the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker’s stock valued at $742,000 after purchasing an additional 133 shares during the period. 64.25% of the stock is currently owned by institutional investors.

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.