NIKE (NYSE:NKE) Price Target Cut to $37.00 by Analysts at Deutsche Bank Aktiengesellschaft

NIKE (NYSE:NKE) had its price target reduced by Deutsche Bank Aktiengesellschaft from $45.00 to $37.00 in a research report sent to investors on Monday, Marketbeat.com reports. They currently have a hold rating on the footwear maker’s stock.

A number of other analysts also recently commented on the company. Robert W. Baird set a $44.00 price target on NIKE and gave the company a “neutral” rating in a research report on Monday, September 14th. The Goldman Sachs Group cut their price target on shares of NIKE from $42.00 to $38.00 and set a “neutral” rating on the stock in a report on Friday. Jefferies Financial Group reiterated a “buy” rating on shares of NIKE in a research note on Monday. UBS Group set a $42.00 price objective on NIKE and gave the company a “neutral” rating in a research note on Thursday, September 17th. Finally, CICC Research decreased their target price on NIKE from $58.00 to $44.80 and set a “neutral” rating for the company in a research report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty-one have assigned a Hold rating and seven have assigned a Sell rating to the company’s stock. According to MarketBeat, NIKE currently has a consensus rating of “Hold” and an average target price of $46.77.

NIKE Price Performance

Shares of NYSE:NKE opened at $36.40 on Monday. NIKE has a 1-year low of $35.22 and a 1-year high of $76.97. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. The stock has a market cap of $53.99 billion, a PE ratio of 17.41, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. The stock’s fifty day simple moving average is $39.44 and its two-hundred day simple moving average is $43.34.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, June 30th. The footwear maker reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.09. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $10.85 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. As a group, analysts forecast that NIKE will post 1.66 EPS for the current fiscal year.

NIKE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 1st. NIKE’s dividend payout ratio (DPR) is presently 78.47%.

Insiders Place Their Bets

In other news, EVP Philip McCartney sold 2,559 shares of the firm’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $96,192.81. Following the sale, the executive vice president owned 78,121 shares in the company, valued at approximately $2,936,568.39. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following the sale, the chief operating officer owned 104,862 shares in the company, valued at $3,941,762.58. The trade was a 3.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,974 shares of company stock valued at $600,126 over the last 90 days. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On NIKE

A number of large investors have recently modified their holdings of NKE. Scarborough Advisors LLC purchased a new position in shares of NIKE during the first quarter worth approximately $25,000. Cornerstone Financial Management LLC bought a new position in shares of NIKE during the 4th quarter valued at $26,000. Sankala Group LLC bought a new position in shares of NIKE during the 4th quarter valued at $26,000. Meeder Asset Management Inc. raised its position in NIKE by 108.4% in the 1st quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker’s stock worth $29,000 after purchasing an additional 285 shares during the period. Finally, Atlas Wealth LLC bought a new stake in NIKE in the first quarter worth $31,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Potential earnings improvement: Jefferies expects Nike to deliver a first-quarter beat, citing stabilization in North America and wholesale, healthier inventories, and earlier gross-margin expansion. Nike set for Q1 beat as margins improve, Jefferies says
• Positive Sentiment: Options market remains constructive: Options traders are reportedly bullish heading into the earnings release, suggesting some investors expect a favorable post-earnings move. Ahead of Nike Earnings, Here’s What Barchart Data Says Comes Next for NKE Stock
• Positive Sentiment: Brand-building expertise added to the board: Nike appointed Alexandre Arnault, a senior LVMH executive, bringing additional European consumer-market and luxury-brand experience to its governance team. Nike Brings Alexandre Arnault Onto Its Board
• Neutral Sentiment: Turnaround depends on product innovation: Nike is relying on new footwear launches and its Sport Offense strategy to rebuild sportswear momentum, but digital weakness and promotional activity remain obstacles. Will New Footwear Launches Help NIKE Rebuild Sportswear Momentum?
• Neutral Sentiment: Earnings are the key near-term catalyst: Investors are looking for management to provide evidence that North America, China, wholesale demand, margins, and inventory trends are improving. Retail investors are largely holding their positions ahead of the report.
• Negative Sentiment: Analyst sentiment has deteriorated: Evercore cut its price target to $34, HSBC to $40, Deutsche Bank to $37, Goldman Sachs to $38, and Piper Sandler moved to Neutral with a $38 target. The revisions reflect expectations for a slower recovery and heavier promotions.
• Negative Sentiment: China and the broader turnaround remain major risks: Nike’s once-important China business is weakening, with sales reportedly down 12% in the latest quarter. Analysts warn that brand rebuilding, innovation, and recovery may take longer than expected, raising the risk of another negative earnings reset. Nike stock is near a 12-year low

About NIKE

NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.

The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.