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

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, May 1st, RTT News reports. Stockholders of record on Monday, June 2nd will be given a dividend of 0.40 per share by the footwear maker on Tuesday, July 1st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date is Monday, June 2nd.

NIKE has raised its dividend by an average of 10.2% per year over the last three years and has increased its dividend every year for the last 22 years. NIKE has a dividend payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of NIKE stock opened at $60.52 on Friday. The firm has a market capitalization of $89.52 billion, a P/E ratio of 18.68, a P/E/G ratio of 2.52 and a beta of 1.23. NIKE has a 52 week low of $52.28 and a 52 week high of $98.04. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. The firm’s 50 day moving average is $59.08 and its two-hundred day moving average is $69.67.

NIKE (NYSE:NKE) last posted its earnings results on Thursday, March 20th. The footwear maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.26. The firm had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $11.02 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. Research analysts forecast that NIKE will post 2.05 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Telsey Advisory Group lowered their price objective on shares of NIKE from $80.00 to $70.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 6th. Guggenheim reissued a “buy” rating and set a $110.00 price target on shares of NIKE in a report on Wednesday, February 12th. Berenberg Bank initiated coverage on NIKE in a report on Tuesday, April 15th. They set a “hold” rating and a $58.00 price target on the stock. Cfra Research raised NIKE to a “moderate buy” rating in a report on Friday, March 21st. Finally, Stifel Nicolaus lowered their target price on NIKE from $75.00 to $64.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Seventeen analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.26.

Insiders Place Their Bets

In other news, Director Robert Holmes Swan bought 8,600 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were bought at an average cost of $58.46 per share, for a total transaction of $502,756.00. Following the completion of the transaction, the director now owns 31,983 shares in the company, valued at $1,869,726.18. This trade represents a 36.78% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On NIKE

An institutional investor recently raised its position in NIKE stock. Brighton Jones LLC raised its holdings in NIKE, Inc. (NYSE:NKE) by 388.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,411 shares of the footwear maker’s stock after purchasing an additional 160,980 shares during the period. Brighton Jones LLC’s holdings in NIKE were worth $15,316,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 64.25% of the company’s stock.

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.