Nike (NYSE:NKE) Given “Buy” Rating at Deutsche Bank

Deutsche Bank restated their buy rating on shares of Nike (NYSE:NKE) in a research note issued to investors on Friday, June 28th, Stock Target Advisor reports. Deutsche Bank currently has a $100.00 price target on the footwear maker’s stock.

Several other research firms have also commented on NKE. Needham & Company LLC reissued a strong-buy rating on shares of Lumentum in a report on Monday, March 18th. UBS Group lowered shares of JinkoSolar from a buy rating to a neutral rating and lifted their price target for the company from $22.00 to $25.00 in a report on Monday, June 17th. Piper Jaffray Companies set a $93.00 price target on shares of Nike and gave the company a buy rating in a report on Friday, March 22nd. Goldman Sachs Group set a GBX 6,870 ($89.77) price target on shares of Reckitt Benckiser Group and gave the company a neutral rating in a report on Tuesday, June 25th. Finally, Morgan Stanley reaffirmed an overweight rating on shares of in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $89.86.

Shares of NYSE NKE traded down $0.89 during mid-day trading on Friday, reaching $86.55. 6,635,298 shares of the company were exchanged, compared to its average volume of 6,235,925. Nike has a twelve month low of $66.53 and a twelve month high of $90.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.10 and a quick ratio of 1.39. The firm’s 50-day moving average is $84.60. The company has a market capitalization of $137.43 billion, a PE ratio of 34.76, a P/E/G ratio of 2.32 and a beta of 0.78.

Nike (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.04). Nike had a return on equity of 45.12% and a net margin of 10.30%. The business had revenue of $10.18 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the firm earned $0.69 EPS. Nike’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts expect that Nike will post 2.9 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.88 annualized dividend and a yield of 1.02%. Nike’s dividend payout ratio is presently 35.34%.

In other news, CAO Hilary K. Krane sold 17,903 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $88.70, for a total value of $1,587,996.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Elizabeth J. Comstock sold 24,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $84.84, for a total transaction of $2,036,160.00. Following the completion of the transaction, the director now owns 38,813 shares in the company, valued at approximately $3,292,894.92. The disclosure for this sale can be found here. Insiders sold a total of 76,003 shares of company stock worth $6,636,550 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its stake in Nike by 4.3% during the 4th quarter. BlackRock Inc. now owns 86,268,224 shares of the footwear maker’s stock valued at $6,395,928,000 after purchasing an additional 3,592,186 shares in the last quarter. FMR LLC increased its stake in Nike by 27.0% during the 1st quarter. FMR LLC now owns 23,077,703 shares of the footwear maker’s stock valued at $1,943,374,000 after purchasing an additional 4,908,916 shares in the last quarter. Northern Trust Corp increased its stake in Nike by 2.4% during the 4th quarter. Northern Trust Corp now owns 20,985,790 shares of the footwear maker’s stock valued at $1,555,886,000 after purchasing an additional 491,974 shares in the last quarter. Geode Capital Management LLC increased its stake in Nike by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 17,065,913 shares of the footwear maker’s stock valued at $1,263,116,000 after purchasing an additional 796,906 shares in the last quarter. Finally, Norges Bank bought a new stake in Nike during the 4th quarter valued at $892,899,000. Hedge funds and other institutional investors own 65.61% of the company’s stock.

Nike Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.

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Analyst Recommendations for Nike (NYSE:NKE)

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