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

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Thursday, February 13th,RTT News reports. Investors 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 annualized dividend and a 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 raised its dividend every year for the last 12 years. NIKE has a payout ratio of 53.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NIKE stock opened at $73.25 on Friday. NIKE has a 52 week low of $68.62 and a 52 week high of $107.34. The company’s 50 day moving average price is $74.68 and its two-hundred day moving average price is $78.04. 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 stock has a market cap of $108.35 billion, a P/E ratio of 22.61, a P/E/G ratio of 2.34 and a beta of 1.01.

NIKE (NYSE:NKE) last posted its 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. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The firm had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter last year, the firm earned $1.03 EPS. The company’s quarterly revenue was down 7.7% compared to the same quarter last year. On average, equities analysts predict that NIKE will post 2.05 earnings per share for the current year.

Insider Activity

In other news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was purchased at an average cost of $76.65 per share, for a total transaction of $191,625.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on NKE. Morgan Stanley dropped their target price on shares of NIKE from $80.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Friday, December 20th. BMO Capital Markets raised their price target on shares of NIKE from $92.00 to $95.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Guggenheim restated a “buy” rating and set a $110.00 price target on shares of NIKE in a research note on Wednesday. Truist Financial decreased their price target on shares of NIKE from $97.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Finally, TD Cowen decreased their price target on shares of NIKE from $78.00 to $73.00 and set a “hold” rating for the company in a research note on Monday, November 18th. Fifteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.62.

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.