Nike Inc (NYSE:NKE) declared a quarterly dividend on Thursday, February 13th, RTT News reports. Stockholders of record on Monday, March 2nd will be paid a dividend of 0.245 per share by the footwear maker on Wednesday, April 1st. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend is Friday, February 28th.
Nike has increased its dividend by an average of 9.8% per year over the last three years and has increased its dividend every year for the last 2 years. Nike has a payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Nike to earn $3.48 per share next year, which means the company should continue to be able to cover its $0.98 annual dividend with an expected future payout ratio of 28.2%.
Shares of NYSE:NKE opened at $92.00 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.66. Nike has a twelve month low of $77.07 and a twelve month high of $105.62. The stock’s 50 day moving average is $101.19 and its 200-day moving average is $93.94. The firm has a market capitalization of $144.68 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 2.26 and a beta of 0.83.
Nike (NYSE:NKE) last issued its earnings results on Thursday, December 19th. The footwear maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Nike had a return on equity of 50.03% and a net margin of 11.21%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.09 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. Nike’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Nike will post 2.96 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the company. Pivotal Research upped their price target on Nike from $114.00 to $117.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Argus upped their price target on Nike from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Tuesday, December 24th. They noted that the move was a valuation call. Bank of America reiterated a “neutral” rating and set a $105.00 price target (up previously from $98.00) on shares of Nike in a report on Tuesday, December 10th. Piper Jaffray Companies reiterated an “overweight” rating and set a $110.00 price target (up previously from $101.00) on shares of Nike in a report on Friday, December 20th. Finally, Wells Fargo & Co upped their price target on Nike from $91.00 to $99.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twenty-six have issued a buy rating to the stock. Nike presently has an average rating of “Buy” and an average target price of $107.67.
In related news, Director Peter B. Henry sold 2,416 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $101.14, for a total transaction of $244,354.24. Following the sale, the director now owns 4,046 shares of the company’s stock, valued at approximately $409,212.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Monique S. Matheson sold 8,500 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $105.00, for a total value of $892,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 436,916 shares of company stock valued at $43,122,614 in the last quarter. 3.80% of the stock is owned by corporate insiders.
Nike Company Profile
NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide. The company offers NIKE brand products in six categories: running, NIKE basketball, the Jordan brand, football, training, and sportswear. It also markets products designed for kids, as well as for other athletic and recreational uses, such as American football, baseball, cricket, lacrosse, skateboarding, tennis, volleyball, wrestling, walking, and outdoor activities; and apparel with licensed college and professional team and league logos, as well as sells sports apparel.
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