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

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Stockholders 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 dividend yield of 2.18%.

NIKE has increased its dividend payment by an average of 10.2% per year over the last three years and has increased its dividend annually for the last 12 consecutive years. NIKE has a dividend payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect NIKE to earn $2.35 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 68.1%.

NIKE Stock Up 1.4 %

Shares of NKE opened at $73.25 on Friday. NIKE has a 52 week low of $68.62 and a 52 week high of $107.34. The stock has a market capitalization of $108.35 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.34 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. The stock has a fifty day moving average of $74.68 and a 200-day moving average of $78.04.

NIKE (NYSE:NKE) last announced its quarterly earnings results on Thursday, December 19th. The footwear maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.15. NIKE had a return on equity of 36.99% and a net margin of 9.98%. The company had revenue of $12.35 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company earned $1.03 EPS. NIKE’s revenue was down 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on NKE. Truist Financial dropped their price target on NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Barclays decreased their price objective on NIKE from $79.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, December 20th. Robert W. Baird decreased their price objective on NIKE from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Monday, December 23rd. UBS Group restated a “neutral” rating and issued a $73.00 price objective on shares of NIKE in a report on Thursday, December 26th. Finally, BMO Capital Markets increased their price objective on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. Fifteen research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.62.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were bought at an average price of $76.65 per share, with a total value of $191,625.00. Following the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.10% of the company’s stock.

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.