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

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Shareholders of record on Monday, March 3rd will be given a dividend of 0.40 per share by the footwear maker on Tuesday, April 1st. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Monday, March 3rd.

NIKE has increased its dividend by an average of 10.2% annually over the last three years and has raised its dividend every year for the last 22 years. NIKE has a payout ratio of 54.1% indicating that its dividend is sufficiently covered by earnings. Research 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 Performance

NYSE:NKE opened at $73.02 on Friday. The company has a fifty day simple moving average of $74.58 and a two-hundred day simple moving average of $78.00. The company has a market cap of $108.00 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.34 and a beta of 1.01. The company has a quick ratio of 1.51, a current ratio of 2.22 and a debt-to-equity ratio of 0.57. NIKE has a 52 week low of $68.62 and a 52 week high of $107.34.

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

Analyst Ratings Changes

NKE has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of NIKE from $95.00 to $92.00 and set an “overweight” rating for the company in a research note on Monday, December 16th. DA Davidson upgraded shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Royal Bank of Canada lowered their target price on shares of NIKE from $82.00 to $80.00 and set a “sector perform” rating for the company in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $84.00 target price on shares of NIKE in a research note on Friday, February 7th. Finally, Stifel Nicolaus lowered their target price on shares of NIKE from $79.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, December 20th. Fifteen research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, NIKE has an average rating of “Moderate Buy” and an average price target of $88.62.

Insider Buying and Selling

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the acquisition, the director now directly owns 34,403 shares of the company’s stock, valued at approximately $2,636,989.95. This trade represents a 7.84 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

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.