NIKE (NYSE:NKE) Stock Rating Reaffirmed by Deutsche Bank Aktiengesellschaft

NIKE (NYSE:NKE)‘s stock had its “buy” rating restated by analysts at Deutsche Bank Aktiengesellschaft in a research note issued to investors on Friday, Benzinga reports. They presently have a $92.00 price objective on the footwear maker’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 6.33% from the stock’s current price.

Several other research analysts have also commented on the company. Wedbush dropped their price target on NIKE from $115.00 to $97.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. Truist Financial dropped their price target on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research report on Friday, June 28th. BMO Capital Markets dropped their price target on NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a research report on Friday, June 28th. Finally, Bank of America decreased their price objective on shares of NIKE from $113.00 to $104.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Fifteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NIKE has an average rating of “Moderate Buy” and an average price target of $96.15.

NIKE Trading Up 6.8 %

Shares of NIKE stock opened at $86.52 on Friday. The firm has a market cap of $130.59 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 2.08 and a beta of 1.02. The business has a 50-day moving average price of $78.11 and a 200-day moving average price of $87.06. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE has a twelve month low of $70.75 and a twelve month high of $123.39.

NIKE (NYSE:NKE) last issued its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The firm had revenue of $12.60 billion during the quarter, compared to analyst estimates of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. Equities research analysts anticipate that NIKE will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On NIKE

Several institutional investors and hedge funds have recently bought and sold shares of the company. Cim LLC purchased a new stake in shares of NIKE during the fourth quarter valued at $14,275,000. TKG Advisors LLC purchased a new stake in shares of NIKE during the fourth quarter valued at $1,012,000. Spartan Planning & Wealth Management purchased a new stake in shares of NIKE during the fourth quarter valued at $182,000. Edmond DE Rothschild Holding S.A. grew its holdings in shares of NIKE by 27.9% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 113,299 shares of the footwear maker’s stock valued at $12,301,000 after buying an additional 24,686 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in shares of NIKE by 86.0% during the first quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares during the last quarter. 64.25% of the stock is owned by hedge funds and other 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.