NIKE, Inc. (NYSE:NKE) Declares Dividend Increase – $0.40 Per Share

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, November 14th,RTT News reports. Shareholders of record on Monday, December 2nd will be given 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 an increase from NIKE’s previous quarterly dividend of $0.37.

NIKE has raised its dividend payment by an average of 11.2% annually over the last three years and has increased its dividend annually for the last 21 consecutive 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 NKE stock traded down $0.85 on Thursday, reaching $75.67. 6,974,599 shares of the company were exchanged, compared to its average volume of 11,479,373. NIKE has a 1 year low of $70.75 and a 1 year high of $123.39. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The business has a 50-day moving average price of $81.07 and a 200 day moving average price of $83.44. The company has a market cap of $113.46 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.86 and a beta of 1.03.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Tuesday, October 1st. The footwear maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.52 by $0.18. The company 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 quarterly revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.94 EPS. Equities research analysts forecast that NIKE will post 2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on NKE. Royal Bank of Canada lowered their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 7th. Daiwa America cut shares of NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Robert W. Baird boosted their target price on shares of NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Sanford C. Bernstein cut their price target on shares of NIKE from $112.00 to $109.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $97.00 in a research report on Thursday, October 10th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $96.48.

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.