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

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Investors of record on Monday, December 2nd will be paid a dividend of 0.40 per share by the footwear maker on Thursday, January 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. This is a positive change from NIKE’s previous quarterly dividend of $0.37.

NIKE has increased its dividend by an average of 11.2% per year over the last three years and has increased its dividend every year for the last 21 years. NIKE has a dividend payout ratio of 46.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect NIKE to earn $3.15 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 47.0%.

NIKE Price Performance

Shares of NIKE stock opened at $75.67 on Friday. NIKE has a one year low of $70.75 and a one year high of $123.39. The stock’s fifty day moving average is $81.07 and its 200 day moving average is $83.44. The stock has a market cap of $113.46 billion, a P/E ratio of 21.68, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.18. The business had revenue of $11.59 billion during the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. NIKE’s revenue for the quarter was down 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.94 EPS. Sell-side analysts anticipate that NIKE will post 2.74 earnings per share for the current year.

Analysts Set New Price Targets

NKE has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on NIKE from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, October 2nd. Williams Trading upgraded NIKE from a “sell” rating to a “buy” rating and lifted their price target for the stock from $67.00 to $93.00 in a research report on Friday, August 16th. Piper Sandler reiterated a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research report on Friday, September 20th. Jefferies Financial Group lifted their price target on NIKE from $80.00 to $85.00 and gave the stock a “hold” rating in a research report on Monday, September 30th. Finally, Daiwa America lowered NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.48.

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.