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

NIKE, Inc. (NYSE:NKE) announced a quarterly dividend on Thursday, August 1st, RTT News reports. Stockholders of record on Tuesday, September 3rd will be paid a dividend of 0.37 per share by the footwear maker on Tuesday, October 1st. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.04%.

NIKE has raised its dividend by an average of 11.2% annually over the last three years and has raised its dividend annually for the last 21 consecutive years. NIKE has a dividend payout ratio of 41.6% meaning its dividend is sufficiently covered by earnings. Analysts expect NIKE to earn $3.53 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 41.9%.

NIKE Stock Performance

Shares of NKE opened at $72.47 on Friday. The business has a 50-day simple moving average of $84.07 and a two-hundred day simple moving average of $92.91. The stock has a market cap of $109.38 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.95 and a beta of 1.01. The company has a quick ratio of 1.69, a current ratio of 2.40 and a debt-to-equity ratio of 0.55. NIKE has a 52 week low of $70.91 and a 52 week high of $123.39.

NIKE (NYSE:NKE) last released its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.16. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The business had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the previous year, the company posted $0.66 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. On average, analysts expect that NIKE will post 3.12 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on NKE. Truist Financial lowered their price objective on NIKE from $99.00 to $81.00 and set a “hold” rating for the company in a research note on Friday, June 28th. BMO Capital Markets decreased their price objective on shares of NIKE from $118.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group dropped their price objective on NIKE from $118.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. KeyCorp reiterated a “sector weight” rating on shares of NIKE in a report on Friday, June 28th. Finally, Jefferies Financial Group lowered their price objective on shares of NIKE from $90.00 to $80.00 in a research note on Friday, July 12th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NIKE has a consensus rating of “Hold” and an average price target of $96.30.

Insider Activity

In related news, VP Johanna Nielsen sold 282 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Johanna Nielsen sold 282 shares of NIKE stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $93.64, for a total transaction of $26,406.48. Following the completion of the sale, the vice president now directly owns 730 shares of the company’s stock, valued at approximately $68,357.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Mark G. Parker sold 168,378 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $102,648,662.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 323,660 shares of company stock valued at $27,973,033. 0.50% of the stock is currently owned by corporate insiders.

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.