DZ Bank Downgrades NIKE (NYSE:NKE) to Hold

DZ Bank cut shares of NIKE (NYSE:NKE - Free Report) from a buy rating to a hold rating in a research report sent to investors on Thursday, Marketbeat Ratings reports. DZ Bank currently has $76.00 price objective on the footwear maker's stock.

A number of other analysts have also issued reports on the company. Royal Bank Of Canada decreased their price objective on NIKE from $66.00 to $65.00 and set a "sector perform" rating on the stock in a research note on Tuesday, May 20th. Wall Street Zen cut NIKE from a "hold" rating to a "sell" rating in a research report on Friday, June 27th. Telsey Advisory Group reissued a "market perform" rating and issued a $70.00 target price on shares of NIKE in a report on Friday, June 27th. Williams Trading lowered their target price on shares of NIKE from $93.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, April 21st. Finally, Morgan Stanley boosted their price objective on NIKE from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Friday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, NIKE has a consensus rating of "Moderate Buy" and an average target price of $77.15.

NIKE Trading Down 2.4%

Shares of NIKE stock traded down $1.80 on Thursday, reaching $72.82. 7,582,513 shares of the company's stock were exchanged, compared to its average volume of 15,213,245. The company has a market capitalization of $107.71 billion, a P/E ratio of 33.70, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. NIKE has a 52 week low of $52.28 and a 52 week high of $90.62. The firm's 50-day moving average is $63.78 and its two-hundred day moving average is $67.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.50 and a current ratio of 2.21.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, June 26th. The footwear maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. NIKE had a net margin of 6.95% and a return on equity of 23.33%. The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.69 billion. During the same period last year, the firm earned $0.99 earnings per share. The business's quarterly revenue was down 11.9% compared to the same quarter last year. Sell-side analysts predict that NIKE will post 2.05 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Monday, June 2nd. NIKE's dividend payout ratio (DPR) is 74.07%.

Institutional Investors Weigh In On NIKE

A number of institutional investors and hedge funds have recently modified their holdings of NKE. Stone House Investment Management LLC bought a new position in NIKE in the 1st quarter worth about $25,000. Heck Capital Advisors LLC bought a new position in shares of NIKE during the 4th quarter worth approximately $28,000. Hopwood Financial Services Inc. bought a new position in shares of NIKE during the 4th quarter worth approximately $30,000. LFA Lugano Financial Advisors SA boosted its holdings in NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker's stock worth $30,000 after acquiring an additional 210 shares in the last quarter. Finally, Saudi Central Bank acquired a new stake in NIKE in the first quarter worth about $30,000. 64.25% of the stock is 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.