Deutsche Bank Aktiengesellschaft Trims NIKE (NYSE:NKE) Target Price to $123.00

NIKE (NYSE:NKEGet Rating) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $130.00 to $123.00 in a research note published on Wednesday, The Fly reports. They currently have a buy rating on the footwear maker’s stock.

A number of other research analysts have also commented on the stock. Stifel Nicolaus reduced their price target on shares of NIKE from $135.00 to $130.00 in a research report on Wednesday, July 20th. Jefferies Financial Group set a $155.00 price target on shares of NIKE in a research report on Tuesday, June 28th. Wells Fargo & Company reduced their price target on shares of NIKE from $150.00 to $130.00 and set an overweight rating for the company in a research report on Tuesday, June 28th. Cowen reduced their price target on shares of NIKE from $127.00 to $124.00 and set an outperform rating for the company in a research report on Monday, September 12th. Finally, Cowen reduced their price target on shares of NIKE from $127.00 to $124.00 and set an outperform rating for the company in a research report on Monday, September 12th. Eleven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $133.88.

NIKE Stock Down 2.6 %

NIKE stock opened at $99.79 on Wednesday. NIKE has a 1-year low of $99.53 and a 1-year high of $179.10. The firm has a market capitalization of $156.53 billion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 2.27 and a beta of 1.03. The company has a current ratio of 2.63, a quick ratio of 1.84 and a debt-to-equity ratio of 0.58. The firm has a 50 day simple moving average of $109.81 and a 200 day simple moving average of $115.99.

NIKE (NYSE:NKEGet Rating) last released its quarterly earnings data on Monday, June 27th. The footwear maker reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. NIKE had a net margin of 12.94% and a return on equity of 40.74%. The business had revenue of $12.20 billion during the quarter, compared to analyst estimates of $12.10 billion. During the same period in the previous year, the business earned $0.93 EPS. NIKE’s revenue was down .8% compared to the same quarter last year. On average, analysts predict that NIKE will post 3.78 earnings per share for the current year.

NIKE declared that its board has initiated a share repurchase plan on Monday, June 27th that permits the company to repurchase $18.00 billion in outstanding shares. This repurchase authorization permits the footwear maker to buy up to 11% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

NIKE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Tuesday, September 6th will be given a $0.305 dividend. This represents a $1.22 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, September 2nd. NIKE’s payout ratio is 32.45%.

Insider Buying and Selling at NIKE

In related news, EVP Monique S. Matheson sold 19,500 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the transaction, the executive vice president now owns 80,355 shares in the company, valued at $8,312,724.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other NIKE news, EVP Monique S. Matheson sold 30,000 shares of the company’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $107.19, for a total value of $3,215,700.00. Following the sale, the executive vice president now owns 60,330 shares in the company, valued at $6,466,772.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Monique S. Matheson sold 19,500 shares of the company’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $103.45, for a total transaction of $2,017,275.00. Following the completion of the sale, the executive vice president now owns 80,355 shares in the company, valued at approximately $8,312,724.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 59,561 shares of company stock worth $6,374,094. 0.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NIKE

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in NIKE by 0.6% in the first quarter. Vanguard Group Inc. now owns 107,022,020 shares of the footwear maker’s stock worth $14,400,882,000 after purchasing an additional 662,243 shares during the period. BlackRock Inc. grew its holdings in NIKE by 0.6% in the first quarter. BlackRock Inc. now owns 90,518,050 shares of the footwear maker’s stock worth $12,180,110,000 after purchasing an additional 553,087 shares during the period. State Street Corp grew its holdings in NIKE by 3.6% in the fourth quarter. State Street Corp now owns 56,598,375 shares of the footwear maker’s stock worth $9,433,251,000 after purchasing an additional 1,969,270 shares during the period. Wellington Management Group LLP lifted its stake in shares of NIKE by 9.0% in the first quarter. Wellington Management Group LLP now owns 18,040,233 shares of the footwear maker’s stock worth $2,427,495,000 after buying an additional 1,486,421 shares in the last quarter. Finally, Norges Bank bought a new position in shares of NIKE in the fourth quarter worth approximately $1,894,686,000. Hedge funds and other institutional investors own 64.19% of the company’s stock.

NIKE Company Profile

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NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells men's, women's, and kids athletic footwear, apparel, equipment, and accessories 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.

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