NIKE, Inc. (NYSE:NKE) to Issue Quarterly Dividend of $0.37

NIKE, Inc. (NYSE:NKE) declared a quarterly dividend on Tuesday, November 14th, RTT News reports. Shareholders of record on Monday, December 4th will be paid a dividend of 0.37 per share by the footwear maker on Tuesday, January 2nd. This represents a $1.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Friday, December 1st. This is a boost from NIKE’s previous quarterly dividend of $0.34.

NIKE has raised its dividend payment by an average of 11.5% annually over the last three years and has raised its dividend annually for the last 20 consecutive years. NIKE has a dividend payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect NIKE to earn $4.39 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 31.0%.

NIKE Stock Up 2.0 %

NKE opened at $107.82 on Thursday. The company has a quick ratio of 1.84, a current ratio of 2.87 and a debt-to-equity ratio of 0.64. The firm has a market cap of $164.09 billion, a P/E ratio of 33.28, a PEG ratio of 1.73 and a beta of 1.09. NIKE has a 52 week low of $88.66 and a 52 week high of $131.31. The business’s fifty day simple moving average is $99.39 and its 200 day simple moving average is $106.08.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, September 28th. The footwear maker reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.20. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $13 billion. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. As a group, equities research analysts anticipate that NIKE will post 3.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NKE has been the topic of several analyst reports. Guggenheim restated a “buy” rating and set a $135.00 price objective on shares of NIKE in a report on Friday, September 22nd. Raymond James decreased their price objective on NIKE from $128.00 to $121.00 and set an “outperform” rating on the stock in a report on Tuesday, September 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $113.00 price target on shares of NIKE in a report on Friday, October 6th. Bank of America decreased their price target on shares of NIKE from $125.00 to $110.00 in a report on Wednesday, September 20th. Finally, Jefferies Financial Group lowered shares of NIKE from a “buy” rating to a “hold” rating and decreased their price target for the company from $140.00 to $100.00 in a report on Monday, September 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.50.

Insider Buying and Selling at NIKE

In other news, Director Robert Holmes Swan acquired 13,072 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were purchased at an average cost of $96.13 per share, for a total transaction of $1,256,611.36. Following the transaction, the director now directly owns 18,005 shares in the company, valued at approximately $1,730,820.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert Holmes Swan acquired 13,072 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were acquired at an average cost of $96.13 per share, for a total transaction of $1,256,611.36. Following the completion of the purchase, the director now directly owns 18,005 shares in the company, valued at $1,730,820.65. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Mark G. Parker sold 58,091 shares of NIKE stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $99.60, for a total transaction of $5,785,863.60. Following the sale, the chairman now owns 1,255,600 shares in the company, valued at $125,057,760. The disclosure for this sale can be found here. 0.50% of the stock is currently owned by insiders.

Institutional Trading of NIKE

Hedge funds and other institutional investors have recently modified their holdings of the company. Resurgent Financial Advisors LLC bought a new stake in shares of NIKE in the 4th quarter worth $149,000. Atlas Capital Advisors LLC lifted its position in shares of NIKE by 2,553.2% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,247 shares of the footwear maker’s stock valued at $138,000 after acquiring an additional 1,200 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of NIKE during the 1st quarter worth $136,000. Providence Capital Advisors LLC acquired a new position in shares of NIKE in the 1st quarter worth $113,000. Finally, Fairfield Bush & CO. acquired a new stake in shares of NIKE during the second quarter worth $100,000. Institutional investors own 63.42% 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.