NIKE (NYSE:NKE) Cut to Hold at DZ Bank

DZ Bank downgraded shares of NIKE (NYSE:NKE - Free Report) from a buy rating to a hold rating in a report issued on Thursday, MarketBeat Ratings reports. DZ Bank currently has $76.00 price target on the footwear maker's stock.

NKE has been the topic of a number of other reports. Jefferies Financial Group reissued a "buy" rating on shares of NIKE in a research report on Friday, May 23rd. Evercore ISI dropped their price objective on NIKE from $97.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, June 24th. Citigroup increased their target price on NIKE from $57.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, June 27th. Telsey Advisory Group reissued a "market perform" rating and set a $70.00 target price on shares of NIKE in a research note on Friday, June 27th. Finally, Cfra Research upgraded shares of NIKE to a "moderate buy" rating in a report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, NIKE currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.15.

NIKE Trading Up 1.5%

Shares of NYSE:NKE traded up $1.08 during trading on Thursday, hitting $74.64. The company had a trading volume of 13,032,078 shares, compared to its average volume of 15,243,042. The stock has a market cap of $110.41 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 2.66 and a beta of 1.25. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.21 and a quick ratio of 1.50. The company has a fifty day simple moving average of $63.42 and a two-hundred day simple moving average of $67.44. NIKE has a one year low of $52.28 and a one year high of $90.62.

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

NIKE Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a $0.40 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.14%. NIKE's dividend payout ratio is presently 74.07%.

Hedge Funds Weigh In On NIKE

A number of hedge funds have recently bought and sold shares of NKE. Goldman Sachs Group Inc. lifted its position in shares of NIKE by 344.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,698,835 shares of the footwear maker's stock valued at $1,694,842,000 after buying an additional 20,688,013 shares in the last quarter. Norges Bank acquired a new position in NIKE during the fourth quarter worth $1,126,288,000. Wellington Management Group LLP lifted its holdings in NIKE by 24.9% during the first quarter. Wellington Management Group LLP now owns 45,383,916 shares of the footwear maker's stock valued at $2,880,971,000 after purchasing an additional 9,043,180 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of NIKE in the first quarter valued at about $509,051,000. Finally, Nuveen LLC purchased a new stake in shares of NIKE during the first quarter worth about $502,285,000. Hedge funds and other institutional investors own 64.25% of the company's stock.

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.