NIKE, Inc. (NYSE:NKE) Declares Quarterly Dividend of $0.40

NIKE, Inc. (NYSE:NKE) announced a quarterly dividend on Thursday, February 13th, RTT News reports. Investors of record on Monday, March 3rd will be paid a dividend of 0.40 per share by the footwear maker on Tuesday, April 1st. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Monday, March 3rd.

NIKE has raised its dividend by an average of 10.2% annually over the last three years and has increased its dividend every year for the last 22 years. NIKE has a dividend payout ratio of 53.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect NIKE to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 68.4%.

NIKE Stock Down 0.7 %

Shares of NIKE stock opened at $79.43 on Friday. The business’s 50 day simple moving average is $74.64 and its 200 day simple moving average is $78.33. NIKE has a 52-week low of $68.62 and a 52-week high of $105.57. The firm has a market cap of $117.49 billion, a PE ratio of 24.52, a P/E/G ratio of 2.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 2.22.

NIKE (NYSE:NKE) last posted its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.15. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The business’s quarterly revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. On average, analysts predict that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Activity

In other news, Chairman Mark G. Parker sold 169,732 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $72.83, for a total transaction of $12,361,581.56. Following the completion of the transaction, the chairman now owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John W. Rogers, Jr. purchased 2,500 shares of the stock in a transaction dated Friday, December 27th. The shares were acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the acquisition, the director now directly owns 34,403 shares in the company, valued at $2,636,989.95. This represents a 7.84 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NKE has been the topic of several recent analyst reports. Jefferies Financial Group raised NIKE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Stifel Nicolaus lowered their price target on NIKE from $79.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, December 20th. Bank of America lowered their price target on NIKE from $95.00 to $90.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. BMO Capital Markets lifted their target price on NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Finally, TD Cowen reduced their target price on NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Fourteen research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.77.

About NIKE

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.